The Island Market in Statistics - all the key facts at your fingertips..

News at Trigghomes | 26/01/2021

Sometimes it's helpful to cut through all the commentary and just look at the facts.

Trigg & Co are the only Island agent to be approved members of Lonres - London's premier network of estate agents, home finders, relocation professionals and data specialists.  Lonres produce an independent assessment of the hard facts and figures for the markets in which their member firms are active.  We are grateful to them for all the great information in this statistical summary which underlines what makes them a key part of our proposition to Island vendors.

A quick look at the final quarter of 2020 shows the effects of the pandemic, the stamp duty holiday and the 'desire to move'.  Whilst transaction levels are down, prices have been rising at their fastest pace for some years.  We believe prices will hold firm in 2021 as the market comes out of the third lockdown, life starts to return to normal and buyers remain determined to find the right home for themselves and their families.

Whilst attention tends to focus on the 'top-end' properties, you can see that this is in fact quite a small segment of the Island market.  95% of all Island sales are under £500k and part of the appeal of the island to London, mainland and second home buyers, is the great lifestyle and great value for money.

Demand is high and steady for detached properties and particularly prized, is a detached bungalow with a decent sized garden.  Do you have one you would like to sell in a 'hot' market?

A very small part of the Island market is new build property - just 2% of sales last year, most of which were in the lower/middle segment of the market.  This lack of new supply also naturally underpins prices for the existing Island homes which are for sale.  Buyers also appreciate the extra space and plot sizes of the older properties.

The prime market is virtually all detached houses - but don't make the mistake of thinking these are £1m+ homes.  The threshold for making it into the top 10% of sales was just £416k in 2020 and just a handful of Island properties actually transact each year over £1m.  

Here at Trigg & Co we sell a complete range of property, right across the Island and right across all price ranges.  We apply exactly the same level of painstaking detail, clever marketing and great customer service to all our proeprties and clients - from the least expensive flat to the highest value house.

If you are thinking about a move, why not ask one of our expert valuers for an up-to-the-minute valuation - without any fuss, any obligation or any cost.  We can even give you an outline idea by telephone and follow up when the current lockdown ends.