Diary of an agent: Aimee Sinclair-Horgan and Samantha Leighton

Aimee Sinclair-Horgan (pictured right) and Samantha Leighton (pictured left) are part of Wilsons Knight Frank, based in St Helier.

They explain how the Jersey market has come out of lockdown busier than when it entered; the competitive situation that has led to same-day offers for newly listed property becoming normal; and how lockdown has reinvigorated the higher-value end of the island’s property market after an extended period of political uncertainty.

Jersey, which has a population of more than 107,000 people, has had just 396 confirmed Covid cases, and offers tests to new arrivals with results available in a maximum time of 72 hours.

What was lockdown like in Jersey?

Aimee Sinclair-Horgan (AH) – We had a similar experience to the UK mainland, heading into lockdown a few days later and opening for business again on 11 May. While the Royal Court stayed open throughout, which allowed for completions, we had no idea what would happen once the property market reopened. The first few months of 2020 had been very strong and up until lockdown we’d predicted a great year ahead. However, once restrictions came in, we simply didn’t know what the impact would be.

Samantha Leighton (SL) – We spent our time during lockdown preparing for reopening and putting in place the procedures and PPE that we’d need to once we reopened. After the initial shock of lockdown, we started receiving an increasing number of enquiries, which although we couldn’t act on at that point, showed that demand was still there.

What’s the recovery been like?

SL – Enquiries continued to build as we led up to the reopening of the property market, and once we were back, we were inundated. We came out of lockdown busier than when we went into it. It’s really taken off from there, to the degree that anything priced right is moving, usually after the first day of viewings. If a property hasn’t received an offer in its first week on the market, then there’s something wrong with the price it’s on for.

Where's the interest coming from?

SL – In the general market it is mostly people on the island upsizing, although there are some taking the opportunity to downsize as things are buoyant. We have quite a few cash buyers, as well as investors. I’m currently working with a couple who live in town in an apartment they love. However, it has no carpark or garden, so after lockdown they’re looking to buy a house with those features. That’s typical of what we are seeing on the island.

AH – There’s plenty of activity from the UK mainland. A family who I have working with for the past few weeks had previously been resident in the island for around five years. Work then relocated them back to London where they purchased a home. Due to Covid, circumstances have changed to enable working from home – Jersey has full 4G and fibre optic broadband coverage – and because of this they have decided to return to the island with their children.

What’s happening further up the property ladder?

AH – The top end of the property market on Jersey is clustered around the west of the island. St Brelade is one such hotspot, with modern, contemporary houses rather than the Jersey-granite properties that are common across the rest of the island. It’s been a relatively quiet 18 months for higher valuation properties, which by their nature are often discretionary purchases. This has been due to concerns over Brexit and the UK political situation. However, it’s busy again with Covid having led to people re-examining their lifestyles and after the period of prolonged political uncertainty and then lockdown, deciding to make changes.

From what you’ve said, the market is moving quickly then?

AH – People are offering the asking price after walking through the door. It’s because in the current market, if you view three properties and then go back to make an offer on the first one you saw it’s likely to have been snapped up.

SL– For properties valued up to £1m, which on Jersey will buy you a four-bedroom house, we’re seeing the price ceiling being broken repeatedly such is the demand. 

What are your thoughts on the months ahead?

AH – It looks like we could remain busy into the winter, unless there is a spike in virus infections or another full-scale lockdown, of course. Jersey has handled the pandemic well to date, and people feel confident as a consequence.

SL –We’re busy and still undertaking lots of valuations, which is very positive. We’ll see what comes in the next few months, but the only thing acting as a brake on the market at present is the bottleneck in getting surveys done when they are required for the banks. We move straight from offer to completion on Jersey, so the process of buying a home is quick, and typically takes three to six weeks.