Latest figures from the States show the price of a local property and the average rent both rose between June and September 2024.

Over the past three months, the average price of a local market home being sold in Guernsey has risen 3.8% to £609,723.

This is 5.9% lower than this time last year, but 40% higher than five years ago.

There were 165 local market home sales in this quarter, 20 more than the previous quarter, and 27 more than in the same time period in 2023.

However, transaction times have increased, with the average sale taking 221 days, compared to 164 last year.

Meanwhile, the monthly rental price for Local Market properties rose by 4.2%.

Renters are now paying on average £2,054 a month.

This is 7.6% higher than in 2023 and 47.5% higher than five years ago.

The average house sale price on the open market in this quarter of 2024 was £1,958,288, compared with £1,443,438 in 2023.

Full details of the States' collated Resident Property Prices for Q3 2024 can be found here.