Wednesday 14 August 2013
The mix adjusted average purchase price for local market property was £457,642 in the second quarter of 2013, 4.0% higher than the same quarter of the previous year.
Dr Andy Sloan, States Economist said:
"Softer conditions in the local market continued into the second quarter; volumes remained down on the same period last year. However, there are signs of future improvement, the rate of decline in volumes has slowed and annual change in average price remains positive. Surveying the number of properties on the market, there would seem to be a glut of properties for sale. This will hold back prices in the absence of a significant pickup in demand, which itself is still being held back by the absence of economic growth in the last twelve to eighteen months."
