Latest news with #HousingPrices
BBC News
5 days ago
- Business
- BBC News
Jersey inflation rises to 2.6%, figures show
Inflation in Jersey has increased in the past three months, new figures have Retail Prices Index (RPI) for June 2025 said the annual figure was 2.6%, compared to the previous three months when it stood at 2.3%.The RPI, which measures changes in the price of goods and services, found leisure goods and services - including sports and off-island holidays - had made the largest contribution to the annual Jersey said a decrease in housing, petrol and diesel prices helped offset the overall rising costs. In December, the figure was 2.5% - a steep decrease since the historically high level of 12.7% in early 2023.
Daily Mail
13-07-2025
- Business
- Daily Mail
The picturesque state where soaring house prices are pushing out regular hardworking people
Housing prices have soared in New Hampshire. The Granite State's median home price hit $565,000 last month and has no plans of cooling off. While the start of the summer is typically a popular time to buy, the record-breaking prices continued a five-year long streak of ever-climbing home prices, and it's bringing rich new residents in and pushing locals out. Nick Taylor, the director of Housing Action New Hampshire, said that the influx of affluent, out of state homebuyers, is leaving a lot of locals in the lurch. He told New Hampshire Bulletin: 'When teachers, first responders, and hardworking Granite Staters can't find homes they can afford, it threatens the strength of our communities and economy.' Housing Action New Hampshire reported that the state needs nearly 90,000 new, affordable homes by 2040 to accommodate the rising population. Adam Gaudet, the former president of the New Hampshire Association of Realtors and the owner of 603 Birch Realty agreed. He told Daily Mail: 'What feels like a great deal to someone moving to New Hampshire, feels unaffordable to many New Hampshire natives.' Gaudet said one of his clients was a single father in his 40s, forced to live with his parents for three years while he saved for a home for his family. Gaudet said the COVID-19 pandemic played a big role in the recent switch of the real estate market. 'The lifestyle and work changes that we saw as a result of [the pandemic] made New Hampshire more appealing than ever to out-of-state buyers who were more open to the idea of living more rural, while paying no income or sales tax.' In 2019, prior to the pandemic, the median price for a home was only $300,000. Gaudet explained that there has been a decrease in the number of homes on the market in the state as the demand has continued to rise. As a result prices continued to increase and have remained at 'record levels'. For reference, experts believe that the last year for a 'balanced market' in New Hampshire was June 2016 when there were over 7,000 homes for sale. This year there are less than 2,500 in the same month. According to Gaudet, that's especially affecting first-time buyers. He said: 'If you have a home to sell, you can afford to move into that next level home – but the first time buyers who don't have a home to make profit from are the ones hurt the most.' The construction of new homes has slowed in recent years as well, adding to the strain on the housing market. Many homeowners don't want to sell while interest rates remain high. 'Buyers today are not rushing to make over-asking offers like we previously saw,' said Gaudet. 'They're more patient and no longer waiving inspections or appraisals.' He said his average listing is about three bedrooms and sits comfortably at the median or just below. Properties closer to nearby cities like Boston or mountains and beaches tend to sell for more. As New Hampshire becomes more and more expensive for locals, Taylor's organization is advocating for more legislative action. He said: 'A bipartisan group of lawmakers took meaningful steps this legislative session to allow more attainable housing options, but with record high prices, it's clear the work is far from done.'
