copycat Posted June 30, 2007 Share Posted June 30, 2007 Nice article in the FT today enticing people to come and either invest in IOM property of to come and live over here. "Last year property prices went up by five to six per cent, according to Magee. "This year, because of a shortage of properties, we've seen a 10 per cent increase already in the first half," he says. "Historically, prices have never gone backwards. Even in periods of depression in the UK, such as in the late 1980s and early 1990s, our prices either stagnated or moved forward. It's because our market isn't flooded with stock, we've got a steadily growing population, a strong local economy and tax advantages. It all adds up to a very healthy market indeed." http://search.ft.com/ftArticle?sortBy=gada...id=070630000952 Link to comment Share on other sites More sharing options...
mojomonkey Posted June 30, 2007 Share Posted June 30, 2007 The price of houses rises over time, what a shocking revelation. Link to comment Share on other sites More sharing options...
Declan Posted June 30, 2007 Share Posted June 30, 2007 I think copy cat is suggesting that by this article appearing in the UK press it will encourage off Island property speculators to jump into the local market, and thereby drive up prices further. And so keep those unable to buy further off the ladder. Link to comment Share on other sites More sharing options...
copycat Posted June 30, 2007 Author Share Posted June 30, 2007 quite so Link to comment Share on other sites More sharing options...
Declan Posted June 30, 2007 Share Posted June 30, 2007 I think copy cat is suggesting that by this article appearing in the UK press it will encourage off Island property speculators to jump into the local market, and thereby drive up prices further. And so keep those unable to buy further off the ladder. Although, as always, we don't get the full picture from copycat. The article is referring to those attracted by the income-tax being capped at 100k for high earners. Not property speculators. Link to comment Share on other sites More sharing options...
mojomonkey Posted June 30, 2007 Share Posted June 30, 2007 As far as I'm aware we live in a capitalist society. If you don't like it try China. Link to comment Share on other sites More sharing options...
Slim Posted June 30, 2007 Share Posted June 30, 2007 Aye, that's an article aimed at people who would pay 100k+ in income tax per year, I dont think these people are pricing you out of the market Copycat. Link to comment Share on other sites More sharing options...
spermann Posted June 30, 2007 Share Posted June 30, 2007 copycat is doing alright, you have no financial worries. Link to comment Share on other sites More sharing options...
John Wright Posted June 30, 2007 Share Posted June 30, 2007 No the article is not aimed at the wealthy. It reports our housing market and it exposes the truth. Not enough development has kept prices high, that is then exacerbated by the tax incentives to the wealthy. We need much more building at the lower end and sokme at the top. The middle is OK and building more starter homes will take the pressure off Link to comment Share on other sites More sharing options...
ourtess Posted July 1, 2007 Share Posted July 1, 2007 IOM prices are lower than South Lakes, with no taxes on death or sale. Nothing to grumble about, could be worse. Link to comment Share on other sites More sharing options...
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