Market commentary: 2024 property transaction levels in Jersey

This article features in the autumn 2024 issue of the Channel Islands Property Newsletter.

Explore the newsletter for more updates.

Almost all house sales in Jersey are completed before the Royal Court, alongside around a third of flat sales, some freehold commercial property sales, and all leases with a term of more than nine years.

Commercial property share sales and share transfer apartment sales are not publicly accessible, so are not included in monthly statistics logged by the court.

The number of Royal Court contracts (both commercial and residential) completed this year (2024) are:

January: 68

February: 74

March: 90

April: 114

May: 106

June: 92

July: 106

Analysis

Compared to last year, there does appear to be a general upward trend in property sales, perhaps in the light of better interest rates, and a more positive overall market outlook.

Commercial and residential agents tell us there is greater activity in the market, so this should translate into higher contract numbers in the latter part of this year, perhaps aided by the stated further cuts in mortgage interest rates.

The Mourant Property team is seeing more commercial clients committing to significant transactions, which is a good sign for the economy as a whole. We remain committed to assisting in the smooth completion of those matters as well as helping our private clients to transact in their residential properties.