By Jo Peacegood, Chair of the Guernsey International Business Association

The Voice of Guernsey Business Survey brought together views from nearly 400 business leaders across almost 20 different industries. It’s the first time such a broad coalition of the island’s business community has united to collectively identify the challenges and priorities that most urgently need government attention.

While the survey explored a wide range of topics, from transport connectivity and tax reform to education and digital infrastructure, one issue stood out above all others: housing. For many of us, it was no surprise that housing emerged as a top priority, but the clarity and strength of the response was striking.

When asked to identify the biggest barriers to growth, 80% of respondents ranked housing affordability as the most significant challenge. Availability of housing was next, cited by 70%, with quality also emerging as a notable concern, particularly in rental properties. These are not marginal numbers. They reflect a strong consensus that Guernsey’s housing situation is having a material impact on our economy, and on the lives of people trying to live and work in Guernsey.

What makes this issue so vitally important is that it does not stand in isolation. It is interconnected with many of the other concerns highlighted in the survey from skills shortages and talent retention to the rising cost of living, and the island’s long-term competitiveness.

Employers are struggling to recruit, not just in the finance industry but across hospitality, healthcare, education and more. We are hearing from employers who have made job offers to excellent candidates, only to lose them when accommodation cannot be found. In other cases, roles have been relocated to other jurisdictions entirely, where the housing market is perceived to be more accessible or better aligned with salary levels.

Even more concerning is the growing number of young people from Guernsey who are leaving – not because they want to, but because they feel there is no path to independent living here. Several businesses have told us they are losing local staff to the UK because the rental market is too competitive, or house prices are simply beyond reach. This is a loss of local talent that should concern us all.

The issue is especially complex because it is not just a short-term challenge. Left unaddressed, housing pressures threaten to undermine Guernsey’s long-term resilience. We are already experiencing the consequences, from unfilled vacancies and lost tax revenue, to rising wage pressures and a shrinking talent pool.

We need to ensure islanders’ housing needs are met. We want Guernsey to be a place that retains local talent, whilst also being attractive to skilled workers, professionals, entrepreneurs, and their families. We must ensure people can live here with a good quality of life, security and opportunity for progression.

GIBA and other organisations continue to engage positively in the Housing Forum, which brings together representatives from business, construction, architecture, estate agencies and government. These conversations have deepened our shared understanding of the challenges [of growing the housing stock], including the drop in housing completions over recent years and the reduction in the construction workforce.

The survey results have emphasised the scale of the housing issues facing Guernsey and among the points raised was the need for greater urgency in delivery. Business leaders overwhelmingly agreed that we need to act now. We need housing units of scale and in the immediate future, we cannot afford to delay any longer.

Guernsey is a special place, and many of us in the business community believe passionately in its future. But the survey results are a clear signal that we cannot afford to be complacent. If we want a vibrant economy, a diverse community, and a sustainable future, then housing must be recognised as the foundation that supports everything else.

The Voice of Guernsey Business Survey also asked respondents what qualities they wanted to see in future political leadership. The answers – collaboration, decisiveness, and long-term thinking were noted by many respondents. The call for change on housing is not coming from one sector or one voice. It is a shared concern and solving it will benefit everyone.

We know that this is a complex issue, and there is no single solution, but with political will, a focus on delivery, and continued collaboration, we can make meaningful progress.

The message from our business community is clear: let’s ensure that housing supports our island’s future, rather than holding it back.