Manx Property Prices

[Slim]

Did they go down or up?

Careful how you answer this.

 

In general asking prices have reduced, because people stopped adding the 10-15% inflation they were expecting.

 

That's not the same as the value dropping, I'm not saying the properties sold for less, but that the amount of inflation applied was reduced.

 

Small sample set I know, but two properties sold identical to mine in the last month not 50 yards away, both for more money than I paid for mine two years ago, but the asking prices did drop.

 

Very difficult to get an accurate picture because the volumes are so low, and very few people have been forced to sell.

 

Why do I need to be careful?

[jaybs]

It's interesting how apartments in the upper/high range that have been on the market for quite a while have started to move, same with bungalows in the mid to high range are moving. I feel the market here did slow a little but nothing like in England.

[xMissMoneypennyx]

Property sales seem to have stagnated compared to the period before the current world finance problems. 10 sales completed last week compared to an average of about 20 before when i did a quick review of the declarations in IOM online.

 

IOM Online doesn't report all sales, just a snapshot in each price range.

 

 

They do report all sales unless requested no to from the Police or probabtion - they have this quote online 'Please note, we publish details of all house sales unless the police or probation service ask us not to.'

[Whimsy]

Maybe by the time the Aussies reclaim the Ashes it will be a bit better????

 

 

Probably by Saturday night going by the lunchtime score - England 70 for 6

[Slim]

They do report all sales unless requested no to from the Police or probabtion - they have this quote online 'Please note, we publish details of all house sales unless the police or probation service ask us not to.'

 

I think what that means is they'll post the details on all the sales they've listed unless asked not to, not that they post all sales. They certainly don't seem to publish apartment sales either way. If you want to verify that, pop into the registry and look for yourself.

[Albert Tatlock]

The Island has weathered the storm very very well compared to the UK and Ireland, and I've noticed a lot of new vacancies for employers in the local press as well.

Cobblers. If you are looking for a McJob maybe, but professional vacancies are few and far between compared to last year. More tightening on work permits is way overdue.

 

I still think the worst is yet to come here, and things will trough in November. I expect unemployment to sharply rise by at least around another 200 or so at the end of the summer.

 

House asking prices at the lower end are falling in many cases (>10%). There are more bargains to be had compared to last year.

 

Be prepared to hear about several other relatively major sets of redundancies in several of the big finance houses here. Not all have made the press yet.

 

I wish it wasn't, but I think your over optimism is somewhat misguided.

[Slim]

I still think the worst is yet to come here, and things will trough in November. I expect unemployment to sharply rise by at least around another 200 or so at the end of the summer.

Be prepared to hear about several other relatively major sets of redundancies in several of the big finance houses here. Not all have made the press yet.

I wish it wasn't, but I think your over optimism is somewhat misguided.

 

Things certainly balancing on a thread. Some talks about big employers that could go either way, making any sort of prediction very difficult.

[Miss Roo]

I still think the worst is yet to come here, and things will trough in November. I expect unemployment to sharply rise by at least around another 200 or so at the end of the summer.

 

Agreed.

And not every person out of work actually signs on either, so i think the figures are much worse.

[Slim]

Be prepared to hear about several other relatively major sets of redundancies in several of the big finance houses here. Not all have made the press yet.

I wish it wasn't, but I think your over optimism is somewhat misguided.

 

 

[bluemonday]

Well well well.

AT and Slim both singing from the same hymn book if not the same song sheet.

And both to my mind spot on.

No doubt the official line that all is nice and happy in la la land will be pushed out at every chance but I fear the eventuality will be somewhat different.

The worst could be yet to come and it won't be as the result of some dirge on youtube.

[GD4ELI]

The worst could be yet to come and it won't be as the result of some dirge on youtube.

I agree - although I don't think the worst will be anywhere near as bad as it was at the end of the 1970's.

[Bombay Bad Boy]

There's house prices, and there's vendors who behave like cocks, because they know it's a seller's market

[Addie]

They do report all sales unless requested no to from the Police or probabtion - they have this quote online 'Please note, we publish details of all house sales unless the police or probation service ask us not to.'

There must be a lot of dodgy purchasers out there then

 

I've got a list as long as your arm of 'Sold' houses, and been keeping this list for 3 months now.

 

But I've only seen two come through to the 'property sales' section in the paper!

 

I check the estate agents every day (saddo I know) and some agents seem never to have sold any houses nor do they seem to get any new ones! That can't go on for long can it?

[VinnieK]

I check the estate agents every day (saddo I know) and some agents seem never to have sold any houses nor do they seem to get any new ones! That can't go on for long can it?

 

I thought that was a bit odd as well. Whilst I've been looking at estate agents on the Island there have been some properties that have been languishing on the for sale list for something close to two years without even so much as a hint in a drop in the asking price, and only a trickle of new properties making up the numbers.

[SunnyNorth]

They do report all sales unless requested no to from the Police or probabtion - they have this quote online 'Please note, we publish details of all house sales unless the police or probation service ask us not to.'

 

I think what that means is they'll post the details on all the sales they've listed unless asked not to, not that they post all sales. They certainly don't seem to publish apartment sales either way. If you want to verify that, pop into the registry and look for yourself.

 

When we moved we asked our advocate how could we get out of putting our purchase in the paper (dodgy ex). She simply said she would write to IOM Newspapers and ask them not to - which they didn't. I've noticed the quote abut all house sales in the paper but this seems to be quite a recent thing.