House price values are down nearly 8% over a twelve month period and are off 13.5% from the peak of Q3 2014 (using the States statistics). These are lagging stats and reflect what has happened up to the end of the Q3. We estimate that the rate of decline in values has continued, but has slowed – and could be approaching a floor. Average figures are now back to where they were in Q4 2010. The good news is that transactions have picked up considerably over 2015 and we expect the final 2016 figure to be a substantial improvement over last year.
Martel Maides Property Matters - November 2016 Report
November has seen a slight slowing in Local Market activity, but plenty of deals agreed two or three months ago are finally going through Court. The States of Guernsey released the Q3 Property Bulletin this month and while the contents aren’t a surprise to any of us at the ‘sharp end’, the figures may come as a surprise to others.