HOUSE prices are still seven per cent higher than this time last year but are showing signs of stabilising.
The average price of a home sold in January to March this year was £507,000 – up from £474,000 in the same quarter last year.
Speaking at the release of the latest Jersey House Price Index yesterday, States statistician Dr Duncan Gibaut said that house prices rose by about 20 per cent last year. This last quarter showed an increase of only seven per cent.
‘We are now seeing a stabilisation of average price,’ he said. ‘Jersey had seen strong growth up until mid-2008 and then it stabilised. Prices are still rising but at a lower annual rate.’
