![Headshot of Martyn Baudains](/media/rhhoykla/martyn-baudains.jpg?cc=0.37442467495737125,0.08146837918054341,0.21592265084701817,0.30343751542064196&width=1440&height=1440&quality=90)
Martyn Baudains
Partner | Legal
Guernsey
![Headshot of Martyn Baudains](/media/rhhoykla/martyn-baudains.jpg?cc=0.37442467495737125,0.08146837918054341,0.21592265084701817,0.30343751542064196&width=300&height=300&quality=90)
Martyn Baudains
Partner
Guernsey
Big things are happening at Ogier. Change is embedded in everything we do. It is redefining our talent, our ways of working, our platforms of delivery, our culture.
Services
We have the expertise to handle the most demanding transactions. Our commercial understanding and experience of working with leading financial institutions, professional advisers and regulatory bodies means we add real value to clients’ businesses.
Sectors
Our sector approach relies on smart collaboration between teams who have a deep understanding of related businesses and industry dynamics. The specific combination of our highly informed experts helps our clients to see around corners.
We have the expertise to handle the most demanding transactions. Our commercial understanding and experience of working with leading financial institutions, professional advisers and regulatory bodies means we add real value to clients’ businesses.
Legal
Corporate and Fiduciary
Consulting
Banking and Finance
Corporate
Dispute Resolution
Employment law
Intellectual Property
Investment Funds
Listing services
Local Legal Services
Accounting and Financial Reporting Services - Ogier Global
Cayman Islands AML/CFT training - Ogier Global
Corporate Services - Ogier Global
Regulatory and Compliance Services - Ogier Global
Sustainable Investment Consulting
Our sector approach relies on smart collaboration between teams who have a deep understanding of related businesses and industry dynamics. The specific combination of our highly informed experts helps our clients to see around corners.
Ogier provides practical advice on BVI, Cayman Islands, Guernsey, Irish, Jersey and Luxembourg law through our global network of offices across the Asian, Caribbean and European timezones. Ogier is the only firm to advise on this unique combination of laws.
Keep up to date with industry insights, analysis and reviews. Find out about the work of our expert teams and subscribe to receive our newsletters straight to your inbox.
Fresh thinking, sharper opinion.
We get straight to the point, managing complexity to get to the essentials. Our global network of offices covers every time zone.
About us
Corporate social responsibility (CSR)
Diversity, equity and inclusion
Information security
Innovation
Sustainability
No Content Set
Exception:
Website.Models.ViewModels.Components.General.Banners.BannerComponentVm
News
08 February 2019
Guernsey
ON THIS PAGE
The States’ 2018 Q4 Guernsey Residential Property Prices Bulletin is released today and confirms a marked improvement in the Guernsey property market.
The eye-catching figures are the increase in the average house price by 4% over the year to £437,909, and the news that there were 50 more local market transactions in Q4 2018 compared to Q4 2017.
An increase in the average house price of 4% of the year is the biggest increase seen for six years and, although the “mixed adjusted average” house price is still lower than it was in 2013 when it was as much as £465,008, Ogier property partner Martyn Baudains has described it as very good news for the market.
Advocate Baudains said: "We need to be cautious when reviewing any particular figure in isolation, but there are other indicators that the property market improved towards the end of last year.
"For example, the average time between first marketing a local market property and completion is just over 200 days now, compared to just under 300 days this time last year, and the actual sale price is now closer to the asking price than it was.
"Banks are also showing signs of increased confidence in the local market, which is apparent from the gradual, cautious, increase in the average loan to value to the present 83%. That increase is only up from a typical 80% over the last couple of years, but as a gauge to see how the banks are feeling it is really quite significant.
"The States increased document duty levels on property purchases with effect from 1 January 2019 – but reduced duty on bonds to 0%. Was there a rush to complete some purchases before those increases took effect? In terms of the local market that is unlikely. For the most part the increases in duty on a purchase were offset by the saving on the bond duty – except for properties in the higher value bandings.
"The increase in document duty may, however, have seen some open market purchases pushed through before 31 December. These would be properties that were going to be purchased anyway and, even taking into account that more transactions are a matter of public record now (because the introduction of document duty on share transfers means most open market properties are now conveyed), the number of open market properties being conveyed is up.
"The sample of open market transactions is small and can be influenced by one-off events, but the news is also good in that sector with the median realty purchase being £1,523,438.
"We have reason to go into 2019 with some optimism."
Martyn Baudains
Partner | Legal
Guernsey
Martyn Baudains
Partner
Guernsey
Sign up to receive updates and newsletters from us.
Sign up
No Content Set
Exception:
Website.Models.ViewModels.Blocks.SiteBlocks.CookiePolicySiteBlockVm