Policy Brief on housing updated

The Policy Centre has updated its Policy Brief Housing to include the data from the latest Statistics Jersey report on housing costs. In 2024 Q4 compared with 2023 Q4 -

• Average house prices were 5.1% lower
• Average rents were 0.8% higher.
• The turnover of properties was 9% higher.

Allowing for inflation house prices have fallen by 23.7% and rents by 17.3% since their peak in 2022 Q3.

The report includes data on the ratio of house prices to earnings.  On a comparable basis in 2023 the ratio in Jersey was 13.4, compared with 8.6 in England and 14.1 in London.

The Brief includes details of the housing stock, housing need and Government policy.

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