An analysis of the Guernsey housing market

Abstract

The housing market on the island of Guernsey has been shaped by policies and traditions that have evolved over an extended period. The purpose of this research is to analyze this market and provide a framework with which to assess future economic and policy scenarios. An historic overview of Guernsey is followed by a description of housing supply and demand, housing policies, and results and conclusions. Analysis of data available over time is undertaken wherever possible. The most important features of the Guernsey housing market are explored, including trends in employment, households, household income, mortgage interest rates, property taxes, new construction, conversions, demolitions, the housing stock, housing prices, and rents. The impact of non-local employees on the housing market and the recent growth of international business are given special attention, along with the legacy of past housing policies. It is hoped that this study of the Guernsey housing market can add to the understanding of housing markets in related island settings. A brief comparison is made with housing in Bermuda.