Apartment prices set to drop

A survey says more people under 65 are choosing to live on their own

Apartment prices in Guernsey could be set to fall.

The island is renowned for its expensive accommodation, but estate agent Gresham Barber said, with so many flats on the market, prices may come down.

Figures from the 2001 census show that more people under 65 are choosing to live on their own.

Mr Barber said the indications were prices would become more competitive.

"If the States of Guernsey consciously allowed all these apartments to come onto the market at the same time, it was with the idea that the supply and demand situation would change.

"The price of these apartments would therefore be more competitive.

"We have seen recently that some of these apartments are very competitive."