House prices, retail prices and earnings
A comparison between the Jersey Retail Prices Index, the Index of Average Earnings and the House Price Index is shown below. Since 1997 house prices in Jersey have seen a greater overall increase than earnings and retail prices.
Retail price, average earnings and house price indices
Property purchase affordability
The Jersey Housing Affordability Index (JHAI) measures whether a working household with an average (mean) income is able to buy a property affordably.
The level of the overall index does not represent any specific level of affordability but it is a way of tracking changes over time.
In 2024 overall housing affordability improved compared to 2023.
A working household with an average (mean) net income was able to service a mortgage affordably on the purchase price of a median-priced 1-bedroom flat, but not on the median price of a house of any size, or a 2 bedroom flat.
Jersey housing affordability indices
Rental stress
Lower income households (classed here as those with an equivalised income in the lower 40% of all households), who spend more than 30% of their gross income (including benefits) on housing costs are considered to be in rental stress.
In 2021/2022, four-fifths (82%) of lower income, private rental households were living in rental stress.
Proportion of each tenure living in rental stress
| Year | Social Rental | Private Rental | Non-qualified Rental |
|---|---|---|---|
| 2009/2010 | 60% | 43% | 61% |
| 2014/2015 | 79% | 82% | 70% |
| 2021/2022 | 71% | 82% | 44% |
Comparisons with UK and Guernsey
Comparison with the United Kingdom
In the fourth quarter of 2024, the mix-adjusted average price for Jersey was greater than in London and more than twice the average in the UK as a whole.
Mix adjusted average price, Jersey compared to UK regions
| Region | Q4 2024 (in £,000’s) |
|---|---|
| Jersey | 586 |
| UK | 268 |
| England | 291 |
| Wales | 219 |
| Scotland | 198 |
| Northern Ireland | 191 |
| London | 528 |
| South East (excluding London) | 383 |
| East | 343 |
| South West | 319 |
| West Midlands | 255 |
| East Midlands | 250 |
| North West | 224 |
| Yorkshire and the Humber | 216 |
| North East | 167 |
More information on UK house prices are on the ONS website www.ons.gov.uk.
Comparison with Guernsey
Guernsey uses a different methodology to that of Jersey and the UK. To compare with Guernsey a consistent basis, the Guernsey methodology is used instead of the methodology used in the Jersey House Price Index.
Calculated using Guernsey’s methodology, the mix-adjusted average price of properties sold in Jersey in the first quarter of 2025 was £739,000. This was £159,000 higher than the mix-adjusted average price of local market properties sold in Guernsey of £580,000.
Comparable (mix-adjusted) house prices in Guernsey and Jersey
More information on Guernsey house prices is available on the Government of Guernsey website www.gov.gg/property.
Data sources and methodology
Jersey Housing Affordability Index
The Jersey Housing Affordability Index (HJAI) uses data from:
- The Jersey House Price Index
- The Index of Average Earnings
In addition, interest rates are derived from data published by the Bank of England: the sterling standard variable mortgage rates quoted to households by UK monetary financial institutions (excluding the central bank), the IUMTLMV rate (average in each year).
For more information on JHAI methodology please see House Price Index – Q4 2024
Rental stress
Rental stress calculations are based on the results of the Living Costs and Household Income Survey
Comparisons with UK and Guernsey
The methodology used in the United Kingdom is comparable with that in Jersey. Statistics Jersey takes publicly available Office for National Statistics (ONS) data and calculates quarterly averages for regions of the UK.
Find data and past reports
Find past reports on our release calendar.
You can find the housing affordability data on the open data website.
You can find the house price data on the open data website.