New homes boost for builders and buyers

New homes boost for builders and buyers

The figures, released by the Planning Department, do not include hundreds which have already been completed but are yet to be filled.The scale of the building programme is good news for first-time buyers as many of the properties are aimed specifically at that market.

It also counters suggestions that the construction industry is in trouble.The figures show that there are currently 976 new homes under construction, 245 are houses and 731 flats.

The vast majority are in St Helier.The chief executive of the Planning and Environment Department, John Young, says it is a healthy picture.The supply of new homes should keep prices stable, as reflected in the House Price Index, which last week showed a year-on-year fall of 1.6% in the average price of a property.Industry experts say that the market remains healthy and that it is a good time to buy.

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