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Desperate Dan

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This sort of Manx Radio reporting worries me. No research, just taking an estate agents word for it...an estate agent! next to MHKs or journalists lol

http://147-5433bc3297b05.radiocms.com/news/isle-of-man-news/housing-market-on-the-up/

Of course he's going to say such things after the official census figures show we are depopulating. That means too many houses for not enough people. Result price will remain soft for some time to come.

Surely this kind of story needs balance?

I do wonder why they seem to operate a 'cut and paste' newsroom!

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The housing market has improved a lot though.

I'm afraid you are seeing things through your IOM Government Malarkey tinted spectacles. The housing market is depressed, prices are still falling. Flats and houses to let are proving to be hard to let as a result of the falling population. I would love to know where the housing market has improved? Possibly first time buyers, as falling prices meaning first time buyers being able to afford. The Estate Agents will tell people what they want to hear, and will portray the island as booming, whilst it clearly isn't.

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The housing market has improved a lot though.

I'm afraid you are seeing things through your IOM Government Malarkey tinted spectacles. The housing market is depressed, prices are still falling. Flats and houses to let are proving to be hard to let as a result of the falling population. I would love to know where the housing market has improved? Possibly first time buyers, as falling prices meaning first time buyers being able to afford. The Estate Agents will tell people what they want to hear, and will portray the island as booming, whilst it clearly isn't.
I disagree. From my own experience I can tell you we just got near full asking price, a couple of offers and well in to double figure viewings (I think it has been particularly busy since the turn of the year). Our buyer sold his house in two days to an investor. The house we are buying was on four days and we agreed at 4% below asking price.

 

Investors are scooping up a lot of lower ticket stuff and whilst there is value to be had I've been dealing with at least four estate agents and they said it was as busy sales wise as it has been in a long time. Desperate for listings.

 

The rental market us exactly as it always is. You ask a sensible rent you have a queue of tenants.

 

First time buyers and lower end (who buy off what we're first time buyers) fuel any property market. It's actually very simple. Movement at the bottom means it filters up the market.

Edited by notwell
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