 Prices have remained stable on the island for the last two quarters |
Property in Guernsey is taking longer to sell, according to the latest figures from Swoffers Estate Agency. Swoffers said last month was the biggest for new instructions for at least seven years and it has almost three times as much property on its books as it had this time last year.
It is thought the increase in the number of properties available locally will result in a slowdown in house prices.
Prices have remained stable on the island for the last two quarters, with the average property going for �273,000.
Steady and secure
There has also been a moving-out trend, as people sell up to go overseas, and downscale to a modern buy-to-let property, thereby keeping their foothold in the island.
But Swoffers' managing director Matthew Henry said that above the �500,000 bracket, the market is sluggish.
He says while properties are taking longer to sell than in the past, and at more realistic prices, he is confident the sector will remain steady and secure for the foreseeable future.
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