The report on the House Price Index (HPI) for the third quarter of 2026 has been released by Statistics Jersey, providing another valuable overview of how the Jersey property market has performed.
Overall, the market shows a 2% decrease in activity compared with the last quarter, however, is still 8% higher than the corresponding quarter of 2025. In numerical terms, HPI statistics show that 270 criteria eligible properties were sold in the third quarter of this year. That is 12 fewer than in quarter two, however, seasonable variations should be accounted for.
Average (mean) property prices for quarter three of 2026 compared with quarter two of 2026 are as follows:
- One-bedroom apartments decreased by £17,000 to £309,000
- Two-bedroom apartments decreased by £78,000 to £502,000
- Two-bedroom houses decreased by £43,000 to £558,000
- Three-bedroom houses decreased by £21,000 to £776,000
- Four-bedroom houses decreased by £32,000 to £1,090,000
First time buyers
This area of the market accounted for 50 property purchases (17%) in quarter three, a small increase of 1% from quarter two.
Rental market
Interestingly, notwithstanding the higher rates of stamp duty for investors, buy-to-let or second home purchasers, 30 properties (10%) purchased were not intended to be used as the buyer's main residence.
Rental prices showed a small increase of 1% at the end of quarter three compared against the corresponding quarter of last year. These figures have been subject to nominal variation over the course of the past few years.
Financing
It is anticipated that the Bank of England is likely to increase base rate from 3.75% to 4% when its Monetary Policy Committee meets today. If this happens, it will be the first increase since August 2023.
UK inflation has been moving up and reached 3.5% in September this year, with many economists projecting a further increase to 4% before year-end.
If the base rate does increase, it is inevitable that mortgage rates will increase almost immediately following any announcement later today.
Looking ahead
Whilst the market remains busy, notwithstanding the fact that the last quarter is often affected by the summer holiday period, the supply of properties for sale on the market continues to remain buoyant. Considering the figures above, we may see further price reductions where vendors' circumstances create a greater need to sell.
Collas Crill has one of the strongest property teams in Jersey. Should you require any advice or guidance on buying or selling property in Jersey, please contact the team on +44 1534 601700.
