Demands grow for increased government support in the housing market
- markdarrenwilkinso
- Feb 18
- 1 min read
Calls for Government Action as Jersey Housing Market Struggles
A leading Jersey estate agent is urging the government to take further action to support the island’s housing market. The call comes as new figures reveal an 8% drop in house prices in 2024, the largest decline since at least 1986. Property sales have also fallen sharply, with a 16% decrease compared to the previous year.
With mortgage tax relief set to end next year, homeowners will face increased costs, adding further pressure to the market. While the Bank of England has recently lowered interest rates, concerns remain over the availability of affordable housing.
Jersey’s government is set to launch a consultation on potential changes to tax relief for buy-to-let investments as part of efforts to stabilise the market.
