Latest figures from the States show the price of a local property dipped, while the average rent rose.

Over the past three months, the average price of a local market home in Guernsey has dropped by 2.1%, to £600,836.

Although this is still 0.3% above the same time period of 2022, and 46.2% higher than five years previous.

There were 175 local market home sales in this quarter, 62 more than in the previous quarter. Although, the same time period in 2022 had 61 more.

Meanwhile, the monthly rental price for Local Market properties rose 4.8% from the previous quarter.

Renters are now paying on average £1,864 a month.

This is 2.6% higher than in 2022 and 42.3% higher than five years previously.

The average paid on the open market this quarter of 2023 was £1,633,125 - a 59.8% increase compared to the average five years ago.

Full details of the States' collated Resident Property Prices for Q2 2023 can be found here.