Guernsey rental cost rises by 16%

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The average monthly cost of renting a property in Guernsey has risen by more than £200 in a year.

The cost rose by 15.7% to £1,593 a month between April and June this year, according to the latest figures from the States of Guernsey, external.

This is up from £1,376 in the same period in 2020.

Guernsey uses a "mix adjusted" system for measuring advertised rental properties, which is weighted according to their type and number of bedrooms.

Image source, States of Guernsey

Between 2019 and 2020, the highest previous annual rise in average rental cost was 6.5%.

The figures come while the island is struggling with what has been described as a housing "crisis", with an insufficient supply of homes to both rent and buy.

The average cost of buying a home between April and June was £506,000 - nearly a 10% increase on the previous year.