The new Jersey House Prices Index reveals a three per cent increase year on year compared to the second quarter of 2002.
The figures, released today, also show a big rise in the number of property transactions.
These are up by 80 per cent on the previous quarter, and about 15 per cent up on the same quarter last year.The news will delight home- owners, who faced the first drop in house prices in a decade in the first quarter of 2003.
But the latest figures have been greeted with caution by Jersey Estate Agents Association president Alan Maclean.He warned that the formula used by th Policy and Resources Statistics Unit to calculate the index was still very new and was accompanied by a three per cent margin of uncertainty.
