This Is Guernsey

By Nicci Martel

TELEVISION presenter and property expert Phil Spencer said that despite concerns the UK property market was healthy. But even if it was to experience a crisis, Guernsey homeowners would be safe, he said.

Mr Spencer, who co-stars with Kirstie Allsopp on Channel Four’s Location, Location, Location, said that homeowners were a long way from experiencing negative equity.

For the market to de-stabilise, people would have to be forced to sell property, which was not happening.

‘In the long term, the market only goes one way. The UK is an island, Guernsey is an island and, with a rising population and a shortage of housing, prices are going to go up,’ said Mr Spencer, who was in the island to front a property seminar for Barclays Wealth.

‘There are a lot of people sitting on the fence who can’t decide whether to buy or sell and that’s a result of what they’ve been reading.

‘Whether it is buying your first home or investing millions into developing a central London property, I am firmly of the opinion that property ownership and development continue to make extremely good financial sense.’

It was Mr Spencer’s first visit to the island and he said he would love to film an episode of his hit programme here, but it was up to islanders to apply for the show, which they can do through the Channel Four website.

Guernsey appeared to be a very desirable place to live, especially for financial workers at the top of their profession who would otherwise have to live somewhere like London.

‘Instead, they can live here, near a beach, and they know their children will be safe and their car won’t get nicked.’

Mr Spencer leaves the island today, but can be seen in a new series of the show starting in January.