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Mon, 27 Jul 2026

Mon, 27 Jul 2026 Average income down in real terms, survey says

The results of the 2023/24 Household Expenditure Survey have been published.

* The average income for islanders in Guernsey is £77,619 per year, a 12% increase in nominal terms compared to 5 years ago.
* However, when adjusted for inflation, the average income is actually 12% lower than it was 5 years ago.
* The average expenditure for islanders in Guernsey is £67,411 per year, which is 6% lower in real terms than 5 years ago.
* Despite being 19% higher nominally, average expenditure has decreased in real terms due to inflation.
* It's estimated that the average money available for expenditure per household is £69,067 per year after accounting for income tax and other factors.
* 41% of respondents reported having either no savings or less than one month's worth of income in savings.
* The survey found that people in different housing markets spent a varying percentage of their gross income on housing-related issues: + Affordable rental or partial ownership market: 33% + Private market renters: 22% + Owners with mortgages: 19%