s c r e e t l y t u c k e d a w a y o n a p e a c e f u l l a n e i n
H e l i e r , t h i s c h a r m i n g h o u s e o f f e r s a w a r m
n d w e l c o m i n g a t m o s p h e r e R e c e p t i o n
o m w i t h l o g - b u r n e r , p r i n c i p a l b e d r o o m
i t h b u i l t - i n s t o r a g e , f u r t h e r b e d r o o m ,
a t h r o o m , k i t c h e n a n d p r i v a t e d r i v e w a y
a r k i n g f o r 2 c a r s ( 1 s p a c e c u r r e n t l y
c c u p i e d b y a s h e d o f f e r i n g a d d i t i o n a l
o r a g e )
sking Price £510,000
u a l i f i e d
G e r i O ' B r i e n
01534 722 227 gobrien@savills.com
F i r s t t i m e
b u y e r s h o m e
a R u e D e L a V a l l e e , S t . M a r y E 3 3 J H
i s p r o p e r t y p r o v i d e s a n o p p o r t u n i t y f o r
s t t i m e b u y e r s t o o w n a c h a r m i n g f a m i l y
m e i n a c o u n t r y s e t t i n g , w h e r e y o u n g
m i l i e s c a n b r i n g u p t h e i r c h i l d r e n i n a
e a s a n t a n d s a f e e n v i r o n m e n t R e c e p t i o n
o m l e a d i n g o n t o t h e g a r d e n , o p e n p l a n
c h e n / d i n i n g r o o m , 3 b e d r o o m s , b a t h r o o m ,
u t h - f a c i n g g a r d e n , d r i v e w a y p a r k i n g a n d
t e r n a l g a r a g e
king Price £785,000
a l i f i e d
V i c t o r i a M a r k l a n d
01534 722 227 victoria.markland@savills.com
e l i g h t f u l
i v a t e h o m e
u e n n e v a i s D r i v e , L a R o u t e g e , S t . B r e l a d e J E 3 8 G N
a r m i n g b u n g a l o w n e s t l e d i n t h e h e a r t
h l y s o u g h t - a f t e r l o c a t i o n , o f f e r s
n d p r i v a c y w h i l s t b e i n g c l o s e t o
m e n i t i e s 2 r e c e p t i o n r o o m s , 2 d o u b l e
m s ( 1 e n s u i t e ) , f u r t h e r b a t h r o o m ,
e k i t c h e n w i t h e x t r a s t o r a g e ,
v a t o r y , p r i v a t e p a t i o g a r d e n w i t h a
e d s u m m e r h o u s e , l a r g e d o u b l e
a n d d r i v e w a y p a r k i n g f o r 4
n a l c a r s
D e b b i e L e B r u n
01534 722 227 debbie.lebrun@savills.com
v e l y c o a s t a l a r t m e n t
e V a r d o n , G r o u v i l l e H T
u i s i t e g r o u n d - f l o o r a p a r t m e n t , t r u l y a
t h i n o n e o f t h e i s l a n d ' s m o s t o u s d e v e l o p m e n t s , r e n o w n e d f o r i t s
m p e c c a b l e f i n i s h e s , a n d e x c e p t i o n a l m e n t , c o m p l e t e w i t h a n o n - s i t e
e r R e c e p t i o n r o o m , 2 e n s u i t e
Price £1.775m
m s , s e p a r a t e k i t c h e n t h a t o p e n s o n t o e , p r i v a t e g a r a g e f o r 2 c a r s a n d o m d d Price £995,000
St. Clement £610,000
A 2 bedroom cottage in the heart of St Clement. This granite fronted home offers 2 good sized reception rooms, separate kitchen and downstairs wc. Upstairs you will find 2 good sized double bedrooms, a study and a house bathroom. Externally there is an enclosed rear
garden together with allocated parking for 1 car. Filled with character throughout, this home is perfect for those looking to put their own stamp on a property. Ideally located with schools, beaches, eateries and bus routes all within walking distance of this charming cottage!
01534 730341
St Clement £615,000
A smart, semi-detached house - just steps from both town and the beach. 2 Ednor Villas offers a perfect blend of convenience and comfort. Ground floor accommodation comprises welcoming entrance hall, cosy sitting room, modern kitchen/dining room, utility room and cloakroom.
The first floor comprises two double bedrooms and one single bedroom together with a stylish bathroom. A perfect opportunity to purchase a central house for apartment money, without the burden of service charges and complications of communal living. Internal viewing essential.
Livingroon - 01534 717100
Places.je #48167
Places.je #50642
Gaudin&Co
St Saviour £619,950
. This place boasts a beautiful sunny garden, perfect for enjoying those warm summer days. The property is situated in a great school catchment area, ideal for families with children looking for quality education nearby. Step inside to discover a large sunny lounge, providing a bright and
welcoming space for relaxing or entertaining guests. This property truly embodies the essence of a great family home, offering both comfort and convenience. Don’t miss out on the opportunity to make this lovely house your own and create lasting memories in this wonderful location.
Spiffy - 01534 851225
St Helier £620,000
A town home with open concept layout that maximises space and natural light. The living/kitchen area is the heart of the home, featuring large windows that allow plenty of light to flow through during the day, balanced with the warmth of the fireplace creating a bright and airy feel. The fully equipped kitchen features neutral tones, and highquality materials that define the interior. Each of the 4 bedrooms is designed with comfort in mind. The master
Reside - 07797 737773
suite is a spacious room benefitting from built in wardrobe space. The second bedroom mirrors this design with large windows that allow sunlight to filter in. The recently modernised house bathroom offers minimalist fixtures and a soothing colour palette. Externally, there is a south facing courtyard, a delightful extension of your living space designed for relaxation and enjoyment. The outdoor area is complemented by an external storage shed equipped with electrical outlets and an outdoor toilet adding both functionality and convenience.
Places.je # 50868
Places.je # 52083
FAMILY LIVING IN THE HEART OF TRINITY
Crown Lodge is deceptively spacious family home, perfectly located within a short stroll of the popular local gastro pub, The Trinity Arms, and within easy reach of schools and country walks, but just 9 minutes from St Helier schools.
The spacious accommodation is configured on three levels comprising entrance hall, cloakroom, luxury kitchen/dining room with premium appliances and a large sitting room with doors providing access to the garden from both rooms.
The first floor hosts the principle bedroom with a dressing area and en-suite bathroom, in addition to three further bedrooms, house bathroom and utility room. The second floor offers two generously proportioned double bedrooms (both with good head height) along with a house shower room. Externally, there is a secure lawned garden bordering fields and parking to the front of the property.
Matt and Jess Bartlett
Jersey Fine Tea is a local family run business. The husband and wife team of Matt and Jess Bartlett can often be found, accompanied by their young boys out in the tea fields, the closest of which form part of their home's extended gardens. We spoke to Matt about how, over the last seven years, Jersey has become an award winning tea growing destination.
Can you tell us a little bit more about the origins of Jersey Fine Tea?
Jersey Fine Tea is a local family-run business that started with a bit of a vision to diversify Jersey’s agricultural heritage by introducing tea farming alongside more traditional crops and rest land from more intensive farming practices. Founded in 2017 after initial project trials, the business transformed fields with unique microclimates and fertile soil into thriving tea gardens, cultivating Camellia sinensis tea bushes — the very same plants that are used in traditional tea producing regions around the world.
Sure! We are a local family-run business that started with a bit of a vision to diversify Jersey’s agricultural heritage by introducing tea farming alongside more traditional crops and rest land from more intensive farming practices. Founded in 2017 after initial project trials, the business transformed fields with unique microclimates and fertile soil into thriving tea gardens, cultivating Camellia sinensis tea bushes — the very same plants that are used in traditional tea producing regions around the world. Sustainability and conservation are a big part of our farming, we use carefully managed hedgerows and wildflower areas to support local wildlife and enhance biodiversi-
JERSEY FINE TEA
ty. For us, this all goes hand in hand with our tea growing. We have a passion for both ethical farming and artisanal tea production. We’re also on a mission to showcase more about the journey tea goes on from seed to cup - So many people enjoy drinking tea but not everyone is familiar with the growing and process that brings tea to your cup. Jersey has a historical link with the tea industry that goes back to the 1870’s with imported teas being blended locally and shipped to countries all around the world. Tea itself was never grown in the island before so it’s fulfilling to think we are adding to our island’s tea legacy through our growing and production, the difference this time, it’ll be our own locally grown teas being shipped around the world.
What is it that makes the island such a good place to grow tea?
Well, without getting too geeky about growing, Jersey has a unique combination of mild winters, warm summers, and high humidity which creates an ideal environment for cultivating Camellia sinensis, the tea plant. The island’s acidic soil is well-suited for tea cultivation, and the Gulf stream’s gentle influence encourages a mostly frostfree climate, allowing our tea plants to thrive. Additionally, being an Island, Jersey’s higher humidity levels help to provide optimal conditions for tea growth as tea plants thrive with higher humidity levels. This combination of moderate temperatures and humidity contributes to Jersey’s unique growing conditions, which help give our teas their distinctive character that reflect the island’s unique terroir.
Where does your passion for tea growing stem from (pardon the pun…)?
My passion for tea growing stems from my horticultural background, early experimental growing and a deep appreciation for sustainable agriculture and conservation management. The idea of cultivating tea in Jersey was inspired by a desire to innovate and contribute to the island’s agricultural diversity. Seeing the tea gardens flourish and produce high-quality teas has been incredibly exciting for a plant geek. I first started growing tea over 25 years ago. When studying Horticulture, I experimented with growing unusual plants and crops and anything difficult to grow such as coffee, pineapple, dragon fruit and of course, tea. Since then, I have always had a number of teas plants growing around me, only now it’s on a much larger scale!
The fascinating thing and again, slightly geeky is that from this one plant, so many different types of tea can be produced with dramatic variations in taste and liquor colour - all these variations can be controlled through the growing and the processing of the leaf. Not many people realise that tea, whether black, white, green, Oolong, yellow, Matcha or Pu-erh teas - they all come from the same plant; Camellia sinensis.
We hear you’ve just added some more awards to your already impressive list of accolades?
Yes, we’re honoured to have received further recognition for our teas, including recent awards from the AVPA which judges agricultural products from around the world. We won four awards at the International Teas of The Word award ceremony that was held in Paris this November. Last year we also won the Gaia Award at The Leafies held in London which recognised our tea farm as the best example of
sustainable tea growing and environmental stewardship. Being recognised alongside growers from around the world and from traditional growing regions is fantastic.
Why are awards so important to a small grower/producer?
For us, as a small grower and producer, awards are significant as they validate the quality of our products and enhance our credibility in the market. They help us reach a wider audience and build trust with consumers who may be discovering our teas for the first time. Tea is the second most consumed beverage in the world, after water. It’s popularity spans across continents and cultures, with billions of people enjoying it daily in various forms—black, green, oolong, white, and more. Tea’s versatility and rich history make it a staple in many traditions and an essential part of daily life for countless people around the globe. It is also important to us that we are flying the flag for Jersey, it always amazes how some people haven’t heard of our beloved island, let alone that we now produce tea here.
For anyone looking to sample Jersey Fine Teas, are they listed on any menus on the island?
Yes, our teas are featured on the menu at The Atlantic Hotel, where guests can enjoy our teas as part of their afternoon tea offerings. We also have one of our teas being used in a new soda being developed by Sands, St.Ouen.
Where can we buy your teas?
You can purchase our teas directly from us, during the height of the growing season we also have an honesty box in one of our tea gardens in St. Lawrence. Additionally, they’re available at various local suppliers across the island, including Coopers Coffee shop, Jersey Museum, Hamptonne country life Museum and the Harbour Gallery.
How should they be prepared/drunk?
Correct brewing is key with any tea, which is why every tea drinker favours their brew a certain way even if a simple cup of builders tea. A badly brewed green can put you off! For years I never much liked Green tea and avoided it simply because I’d had a cup in a cafe where scorching hot water had been put on the tea and it was left to over-brew resulting in a pretty bitter cuppa. It was only later when I got more involved in growing and tasting that I appreciated how important this really is. To fully appreciate the nuanced flavours of our teas, we recommend using fresh, filtered water heated to the appropriate temperature for each tea type. For example, our green teas are best brewed at around 80-85°C, while black teas can be brewed at 95-100°C. Steep the tea for the recommended time of 2-3 minutes to enjoy its full character, we also encourage infusing the leaves for up to three times, with subtle changes in the taste with each brew.
We believe you’re going to be heading to the Simply Christmas Markets in the Royal Square, what dates will you be there?
Yes, we’re excited to participate in the Genuine Jersey Simply Christmas Markets held in St. Helier’s Royal Square. We will be there with our teas on offer at the second Market: Thursday, 28 November to Sunday 1st December and we look forward to sharing our teas with visitors and talking all things tea with folks during this festive event.
Our Genuine Articles are drawn from the ranks of Genuine Jersey, the organisation that supports local producers who create products on the island. Learn more about the organisation and how you could become a member and get featured here in future at www.genuinejersey.com
Bas Rozel and associated fields, Rue de la Perruque, St. Martin £2000000
PROPERTY TRANSACTIONS
The latest transactions through the Royal Court
25 October 2024
La Motte (formerly 1 Green Island House), La Grande Route de la Cote, St. Clement £1550000
Carteret View, La Rue des Landes, St. John £1390000 Herupe Cottage, Le Chemin de Herupe, St. John £1045000
La Rosiere, Le Jardin du Couvent, St. Mary £750000
Avonmore, La Grande Route de la Cote, St. Clement £650000
29, La Ville Vautier, St. Ouen £470000
64 Elm Court, Oak Tree Gardens, St. Helier £275000
1/3 of parking area, Hillside, La Route de St Aubin, St. Helier £100000
Priors, La Chasse Brunet, St. Saviour £1475000
67 La Providence, La Vallee De St. Pierre, St. Lawrence £680000
6 Grenville Court, Plat Douet Road, St. Helier £630000
9 Clos de la Bout, La Rue de la Mare Ballam, St. John £588000
Durberry, Upper Midvale Road, St. Helier £456000
Ringwood, Les Closes, Ruelle de St. Clair , St. Lawrence £1650000
7 Almorah Crescent, St. Helier £1300000
5 Balleine Close, St. Clement £700000
En Tous Cas, Trinity £550000 Gaudin & Co
2 Hillside, La Route de St Aubin, St. Helier £705000
49, Palace Close, St. Saviour £595000
10, John Le Quesne Close, St. Clement £455000
Site of ancient house “La Chiraise” and surrounding land, Le Montes des Louannes, St. Peter £250000
La Bourdonnerie, Rue de la Lourderie, St. Clement £3700000
18 October 2024
Blocks A and K Century Buildings, Esplanade, St. Helier £950000
Robina, 3 La Rue Vaudin, St. Saviour £660000
Bay Stores, 2 Bellozanne Road, St. Helier £627000
7 Les Maisonettes, Tower Road, St. Helier £470000
23, Vauxhall Street, St. Helier £400000
“The Hollies” and surrounding land, Le Vieux Beaumont, St. Peter £1425000
La Vigie, La Rue des Hougues, St. Ouen £940000
38 La Ville de l’Eglise, La Rue de la Pointe, St. Peter £700000
11 Les Maisonettes, Tower Road, St. Helier £480000
Flat 5, 16, Hilary Street, St. Helier £318000
Apartment 1, Glenrest, Duhamel Place, St. Helier £249000
22, St Luke’s Crescent, St. Clement £710000
Beau Site, Mont de Gouray, St. Martin £630000
Bon Accord, 26 Manor Close, St. Clement £610000
2 Thornton Villas, Upper Kings Cliff, St. Helier £470000
2 Brooklyn House, La Route De St. Aubin, St. Helier £200000
11 October 2024
2 Le Grand Clos, Trinity £780000 Broadlands
5 Fallu Farm, St. Peter £695000
The Pavilions, St. Peter £404000 Le Rossignol Estates
61 Clos des Sables, St. Brelade £760000 Benest Estates
14 Magnolia House, St. Lawrence £580000 Broadlands
2 Linden Flats, St. Clement £385000 Broadlands
Agents! Don’t forget to claim your sales through our Places admin console and show which properties you sold, just click ‘historic sales’ from your menu and ‘claim’!
Ho Ho Homeware...
FireD UP
I know what you’re thinking - ‘a firepit in December?!’ - but hear me out. Whilst most of the family would rather cosy up inside, there is a small minority of teens and fun aunts/uncles that will make full use of this excellent garden feature. It turns the hidden corner of the patio into the perfect festive location to engage in authentic life coaching over incognito cigarettes. It turns on and off easily with gas, and a wind guard can keep the flames in order whilst your siblings do all the heavy lifting, persuading your kid not to date that trainwreck that you hate. Meanwhile, you are relinquished of all responsibilities inside, relishing in the fact that your “I was a role model in my youth” image remains securely intact.
Sheepskin Chair & Pouffe
No Christmas gathering would be complete without the designated furniture item red wine drinkers are not allowed to sit on. This cosy sheepskin chair and pouffe adds a touch of texture to the living room, featuring wool sourced all the way from New Zealand. If you’re dreaming of a White Company Christmas, look no further than this beautifully soft set, so toe-curlingly comfortable that you’re almost guaranteed to fall asleep on it during the King’s Speech.
Cosy Sheepskin Pouffe: £325 / Calvert Sheepskin Chair: £1,500 The White Company London
Jupiter Aluminium Fire Pit
Table Dark Grey, £1,039 Romerils
Extendable Dining Room Table
REFLECT ON THE YEAR.
By this point, you’ve probably been in enough cursed fitting rooms to know that lighting really does make all the difference. Alba’s graceful, curved design adds a classic but contemporary feel to the bathroom, providing the perfect environment for guests to check themselves out during family gathering mental health breaks (don’t lie, we all do it). With a seamless transition between either crisp and cool or calming and warm LED illumination, this mirror provides the perfect ambiance to suit the style of any onlooker.
Alba Arch LED Bathroom Mirror, from £442 - £672 depending on size. Pastella
Why cramp the skinniest family members around the corners of the dining room table when you could all sit comfortably around this extendable number instead? This contemporary and minimalist banquet holder comes in either oak, stained black or walnut, and provides the cocktail of practicality and elegance that December 25th calls for. It offers ample leg room for the longest of guests, and with just a smooth and simple pull, extension leaves magic their way out of a concealed compartment. Pebble’s adaptable product is finished with a clear polyurethane lacquer, for a finish that lasts well and caters for groups of 6 to 14.
Extending Dining Table (available in oak, black and walnut), £3,199 Pebble
Nova Saturn Round Gas Fire Pit with Cover Dark Grey, £1,169 Romerils
Nova
KEEP IT DOWN.
Whilst acoustic wall panels do not completely sound-proof a room, they do offer significant benefits for everyone residing inside. They provide aesthetically pleasing interiors adept at eliminating reverberation, perfect for softening the shrill of screaming children or the cries of your competitive family member going bankrupt in Monopoly. Through the use of acoustic foam, these wall panels can absorb around 90% of the sound that hits them, cutting noise levels, minimising echoes and bringing Scandinavian hygge vibes to the heart of your home. A variety of styles are offered by Romerils, meaning you’re bound to find something that fits with the colour scheme of any room.
Premium Decorative Acoustic Slat Wall Panel, in Dark Grey, Dark Oak, Light Grey, Walnut and Natural Oak, £119 per panel (2400mm x 600mm). Romeril
BE A BURRITO
This cashmere throw is the perfect addition to any Christmas cuddle-sesh (or for turning yourself into a human burrito garnished with a box of chocolates). Coming in blue, white, natural and brown, this luxurious number is woven in Nepal, on an old-fashioned knitting machine that forgoes the use of electricity. Such a gentle method of manufacturing maintains the cashmere’s softness, offering warmth without bulk for an extremely light feeling.
Cashmere Throw, £530 Landes Interiors
DE-STRESS
Pastella stock the perfect facility to soak off the stress of Christmas with BC Designs’ exclusive Cian Cast bathtubs. Manufactured from the highest quality raw materials, the bespoke curation offers personalised design choices through a variety of sumptuous hand-painted colours and custom sizing. Each number feels unique, adding a bold feature to your bathroom that is tailored to your individual style. Presents wrapped, meal prepped, bath run - paradise.
AND TO BED. ALMOST.
Turn the living room into an after hours guest room with this simple yet chic sofa bed from Romerils. Coming in both Rust and Cyan, this lounging facility offers a pop of colour whilst helping you accommodate either an extra family member or that friend who never manages to make it home. Spice the number up with some contrasting, subdued tones, from a wide selection of stylish cushions offered by Landes Interiors.
Curl, Straighten, Volumise, Smooth or Define your style while you dry, with no heat damage!
235.38 now £174.13
Hamilton Beach VisionCook 9L Dual Basket Air Fryer
With Vortex Technology – Cooks food up to 25% faster using as little as a teaspoon of oil. Was £199.99, now £99.99
Kenwood kMix Stand Mixer with 5 Litre Bowl
1000W Motor and 5 Year Motor Warranty. Dishwasher safe parts. Includes dough hook, K-beater and whisk. Was £399.99, now £214.99
George Foreman 5 Portion Health Grill
Family size medium grill with rear adjustable foot for flat or angled cooking
Was £59.99, now £39.99
Tower Cavaletto Slow Cooker
Large 3.5L capacity ideal for serving 4-5 people. Tough glass lid for easily monitoring food. Removable crockpot for easy and convenient table top service.
Was £54.99, now £39.99
Samsung UE43DU8000
43inch 4K Crystal UHD HDR Smart TV 2024
Was £359, now £299
Genio Pod Coffee Machine
£69.99
Dremal 4250- 35 MultiTool Kit with Free Flexi Shaft
High performance corded Dremel with a 35 piece kit. Was 129.15, now £79.95
Ninja Ceramic Coated Cookware 3-Piece Pan Set
Made without PFAs, PFOAs, lead or cadmium. Suitable for all hobs and oven-safe up to 285°C
£87.93
Delonghi
A Classy Knoll.
The Knoll is a masterpiece of its time, epitomising mid-century modern glamour. Combining sleek design with unmistakable vintage charm, the property’s striking aesthetic feels like stepping back into an era of high society, Hollywood glamour and classic European style.
With spacious interiors saturated with warm wood, the Knoll captures the spirit of the 60s effortlessly. No expense has been spared in maintaining the mid-century design, with lounge spaces that could easily host cocktail parties worthy of a Bond film. Picture evenings of timeless luxury: martinis, jazz records and vibrant conversations.
The Knoll’s impressive architecture isn’t afraid to make a statement. The stone facade and retro design exudes confidence, as does the expansive curved window that boldly accentuates prominent rooms on both floors. Despite the movie-set feel ingrained within the property, The Knoll takes no chances when it comes to securing a little privacy. Although the home is literally just down the road from Waitrose, passers by would never know the property even existed. It is hidden well by its own private driveway, with the house itself nestled within the confines of magical woodlands. The land runs all the way down to the hill above St Brelades Bay, meaning a short stroll down a woodland path will bring you to some of the best bars and restaurants Jersey has to offer.
Once you step inside the Knoll, the interiors are just as impressive as the exterior. The spacious layout is bathed in natural light, which cascades through the large windows and open-plan rooms. Attractive wood flooring is lit with perfect mood lighting for evening cocktails, with a sunken living area for sparkling conversations overlooking beautifully presented gardens. With five bedrooms and bathrooms, three reception rooms, and room for twelve cars, The Knoll offers ample space for family living or entertaining guests. The
sophisticated 1960s decor, finished with geometric shapes of rich wood, produces clean lines that bring character to an array of unique rooms.
The home’s grounds leave one equally starstruck, with garden and patio areas designed for entertaining. Wide, open spaces allow for vibrant summer garden parties, complete with a pool for those hot, sunny days. The views from the house are nothing short of serene, composed of comforting greenery as far as the eye can see. At night the atmosphere shifts, catering for intimate outdoor dinners under the stars - all whilst the unique architecture of the Knoll glows in a scenic backdrop.
What kitchen is complete without a pinball machine!
A living space with curves and symmetry
Whether you’re a film fanatic, a vintage lover, or simply someone looking for a beautiful, stylish home with character, The Knoll is definitely one to explore.
For those who appreciate the craftsmanship and aesthetic of a bygone era, while still valuing the comforts and space that modern families require, The Knoll would make the perfect home. It boasts an enviable combination of vintage charm, spacious interiors, and beautiful surroundings, all within a walking distance of local amenities and Jersey’s most popular bay. Located just a five minute drive from the airport - or a fifteen minute one from town - this prestigious property remains well connected without relinquishing its right to privacy. Whether you’re a film fanatic, a vintage lover, or simply someone looking for a beautiful, stylish home with character, The Knoll is definitely one to explore.
The Knoll, St Brelade £4,500,000 Freehold
5 BEDROOMS 5 BATHROOMS 4725 SQUARE FEET
Questions: Viewing?
Wood tones inside and out. Panoramic
BEST RATES
MORTGAGE market update
Words: Peter Seymour, The Mortgage Shop
Thursday, November 7th, was a busy day. The Jersey Statistical Unit unveiled the latest House Price Index figures, closely followed by the release of the latest Base Rate decision of the Monetary Policy Committee of the Bank of England.
Since the local property market crashed over two years ago, there has been a variance between the excellent figures produced by the Statistical Unit and the reality of the local property market.
HOUSE PRICE INDEX STATISTICS
The most recent statistics for Quarter 3 confirm that house prices are falling, and the release of this report should go a long way towards convincing vendors that their expectations of selling at the prices seen two years ago are no longer realistic.
DECREASES IN SELLING PRICES
The latest figures show a decrease of between 2% and 20% in the various house types during the third quarter of the year, which clearly reflects the downturn in the market as vendors are slow to reduce asking prices in a bid to achieve a sale.
The extent of the current situation, which is unique to Jersey, can be gauged by the fact that there are currently 1667 apartments and houses on the market, and many of these will not move for two reasons.
HOUSE PRICES MUST FALL
The first as already described is the need for vendors to accept that they are unlikely to secure a sale unless they lower their asking price – a difficult pill to swallow as many owners saw the value of their properties rise to very high levels post Covid.
November October July
2-year Tracker rate 60% LTV 5.5% 5.50% 5.44%
2-year Fixed rate 60% LTV 5.04% 5.34% 5.79%
2-year Fixed rate 90% LTV 5.44% 5.64% 5.49%
5-year Fixed rate 60% LTV 4.54% 4.84% 5.29%
5-year Fixed rate 90% LTV 4.99% 5.14% 5.49%
REDUCED LENDING CAPACITY
The second factor is the reluctance of mortgage providers to continue using the high-income multiples that had been the mainstay of mortgage lending for decades until galloping inflation caused largely by the Russia’s invasion of Ukraine resulted in the Bank of England introducing five rate increases between March 2020 and July 2022.
The multiples were replaced by riskbased affordability assessments which take into account overall income, regular outgoings and potential changes in a borrower’s financial situation and these measures immediately reduced the borrowing capacity of most purchasers seeking a mortgage.
MARKET SLOWDOWN
High property prices and reduced borrowing capacity have now resulted in the current slowdown in the Island’s housing market, although there has been a noticeable increase in footfall to our offices by people keen to find out how much they can borrow and how much they have to save to cover a deposit.
A CHANGE IN THE NEW YEAR
Following the recent announcement about the lowering of the Base Rate by 0.25% to 4.75%, and with the promise of more reductions to follow next year, it is possible that after years of waiting for house purchase to become more affordable many more potential purchasers will start to look at the market.
First time buyer activity is likely to increase as it is this part of the market where prices have fallen most. There are many well remunerated purchasers in their late twenties who are likely to consider a move next year, with extra momentum being given by the Andium First Time buyer scheme, subject to more funding being provided by the Government.
The Homemover sector shows the largest reduction, where the mean price of a three bedroom house has fallen to £749,000 which is £52,000 lower than the previous quarter, although purchasers might still struggle until asking prices drop further, as the lending criteria imposed by all lenders will still restrict increased activity.
RATES WON’T CHANGE IMMEDIATELY
It is uncertain if the recent Base Rate reduction will be felt immediately by borrowers as it always takes time for lenders to review their mortgage interest rates following a Base Rate change, this is usually 30 days.
Since the beginning of the year Jersey mortgage rates have fallen marginally although there will always be a difference, between the rates offered in Jersey as opposed to the noticeably lower rates that lenders’ UK counterparts will charge.
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No waiting ages for an appointment. No endless meetings to find the best lender. We’re quick and efficient to get your mortgage moving.
And with 100s of different mortgages at our fingertips, why not let us do the hard work and shop around to find the best mortgage option that works for you? We won’t stop there, we will be right with you every step of the way, to make sure buying your dream home goes smoothly.
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Red Properties are.... feeling optimistic!
With asking prices now aligned with current market value and vendors accepting the market conditions, coupled with decreasing interest rates, we’re ready to embrace 2025 with renewed enthusiasm.
Now is an excellent time to make your move as there is a plentiful supply of sensibly priced homes and the market is showing signs of an upward trend.
With several new and exciting developments already on the market and more in the pipeline, the Red Team looks forward to helping you find your dream home soon!
Whether you’re taking your first step onto the property ladder, seeking a larger family home, looking to expand your investment portfolio, or in need of a reliable tenant for your rental property, please reach out to us.
Providing clear insight for all your property needs!
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Wilsons Knight Frank specialises in all aspects of the Jersey property market. We provide our clients with unequalled contacts, a trusted experience and an exceptional service, with access to both national and international purchasers through our proven Knight Frank global network. To learn more about this property or to discuss your property needs, please call 01534 877977.
ST BRELADE | £35,000,000 Extraordinary residence that defines luxury living
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This Christmas, Dandara is offering you the chance to save thousands. Buy one of our brand new 2 bedroom apartments and complete before the festive season, and we’ll pay your Stamp Duty and Legal Fees – making your move even more affordable.
On top of that, as an extra gift, we’ll give you a £1,000 Randalls voucher to enjoy meals and drinks at some of Jersey’s best pubs and restaurants, helping you celebrate your new home in style.
*Terms and Conditions Apply.
This limited-time offer ensures you can relax and enjoy Christmas in a brand new Dandara home with everything taken care of. Call 789 900 to find out more.
