Whether planning to buy, sell, or simply wanting to stay informed, understanding the property landscape is more important than ever.

Both the Local and Open Markets in Guernsey have remained resilient, with competitively priced, well-presented homes generating strong interest.

Resilient performance

According to the latest States of Guernsey property bulletin, the average property price for the Local Market had risen to £596,573 in the three months to the end of June – 2.8% higher than the beginning of spring and 1.5% higher than the same period in 2024.

The number of sales completed on the Local Market also increased – rising to 195 between April and June. This is 29 more than the previous quarter and 50 more than the same period last year.

On the Open Market there were 12 sales in the three months to June, compared to 16 between January and March. The average price also dropped slightly year on year to a little over £1.5m – compared to £1.8m in the second quarter of 2024.

Positive steps

These figures are obviously a few months behind where we’re currently at – and the markets have been a little up and down over the summer – but there are reasons to be optimistic.

The market is not without its nuances. Properties requiring significant renovation are taking longer to sell. Conversely, well-maintained homes are commanding premiums, reflecting a shift in buyer priorities toward sustainability and long-term value. Savills has also revised its five year house price forecasts for the UK due to less market activity.

But prices in the Local Market appear to have recovered from the start of the year and lower interest rates have helped generate more movement. It is worth noting, however, that the recent price increase is still less than the Retail Prices Index (RPI).

The Open Market has perhaps not been quite as busy as we expected – particularly in light of changes to inheritance and capital gains tax in the UK – but we may well see more promising buyer sentiment over the coming months.

Market outlook

The Autumn Budget will be important in determining how the rest of the year pans out.

Future cuts to interest rates and possibilities of relaxed mortgage criteria should ease some concerns – but fears about US trading policy and global conflicts have the potential to knock confidence.

Consequently, both the Local and Open Markets are likely to be finely balanced as we head into September and beyond.

Whether moving on-island or from elsewhere, people from all walks of life continue to appreciate what Guernsey has to offer.

Sellers are advised to price realistically, while buyers should be prepared to act decisively when the right property comes along. In both cases, a degree of compromise may well be required to achieve a successful result.