FCMR Posted February 25, 2005 Share Posted February 25, 2005 Kirby Estates Ltd have over twenty town houses unsold, by Saddlestone stores Link to comment Share on other sites More sharing options...
Ripsaw Posted February 25, 2005 Share Posted February 25, 2005 I know if I had done my travelling earlier, at 18 or so I would not have come back, as it is now I intend to move away when I can It's a funny syndrome - you really have to get away and live a normal working life to appreciate it. Well, that is my experience anyway, and one which I know is shared by many. Exactly the reasons for me thinking ahead 15 years. I want him to travel to learn about life beyond his front door. If he doesn't come back then so be it. If I thought trough my worldly experiences that the Island was such a bad place to bring him up, he wouldn't live here now, never mind as an adult. Edit: That's not to say that there isn't room for improvement though Link to comment Share on other sites More sharing options...
P.K. Posted February 25, 2005 Share Posted February 25, 2005 Yes, the IOM has much to offer , but you do have to spend time away to realise it, I have been away 9 years & would come back tomorrow, One day I will <{POST_SNAPBACK}> I am never coming back. THUNDEROUS APPLAUSE! But I might be over in March. - Link to comment Share on other sites More sharing options...
Hugh Jampton Posted February 25, 2005 Share Posted February 25, 2005 I spend some time on foot in Onchan and strike up conversations especially with the older folk and they remember the green fields that the present Birch Hill houses are occupying. They recall the resentment they felt about the Village being turned into a "small town" even then, with the same stories of increased traffic from Birch Hill and Ballachurry. The protests in Birch Hill are the same being repeated from 35 years ago about their homes. They will be repeated in another 30 years, I expect. Link to comment Share on other sites More sharing options...
simon Posted February 25, 2005 Share Posted February 25, 2005 If there were more houses than people, the prices would be dropping (more) IMO the market is stagnated because entry level properties are still unaffordable at entry level wages - meaning that they are over priced. Unless people can sell their first homes - the middle market will continue to be stagnated. My opinion is that the price fall started in the middle - high market. And I was saying that, and getting angst for saying it, almost two years ago. My opinion is that all prices will continue to fall until a single bedroom flat (which is a mortgage prospect) again costs slightly less than 3x a basic salary. So either further price reductions, a huge drop in interest rates, or a massive increase in wages. It's only my opinion and I'm not looking for an argument. I don't think that it will take long for this correction to show. Mid Summer would be my guess - when the promised Spring upturn turns into a dribble. Anyone who bought a flat for £35K cash in 1998 will laugh at an agent who tries to value it at £80K. They'll be quite happy to sell it quickly for much less. Especially when the rental income earned over the past 6 or so years is factored in. It will still represent a considerable profit. This time next year (my prediction): 1 bedroom decent flat = £70k 2 bedroom established house / 3 bedroom Dandara = £130K etc As I said - I'm not looking for a fight. It's only my opinion / best estimate and I know that these are sensitive issues. Link to comment Share on other sites More sharing options...
TheTool Posted February 25, 2005 Author Share Posted February 25, 2005 Think you are right there simon about the drop. Because first timers are not buying it is having a knock on effect to the other people buying. I guess when someone trys to sell there £175.000 house to get say a £250.000 house because no one is buying the £175.000 house people can not move up the ladder. I think property will not drop that much it will just mean that wages will have to catch up, the next boom i reckon will be in about 5 years. People will carry on extending their homes rather than move as its the cheapest way to add value. Ramsey will be next for development and to be honest with you i welcome it because ramsey is stagnating at the moment. The next few years are going to be tuff on the developers because without buyers you cannot develop. Link to comment Share on other sites More sharing options...
FCMR Posted February 26, 2005 Share Posted February 26, 2005 Try getting a loan with a negative equity home Link to comment Share on other sites More sharing options...
simon Posted February 26, 2005 Share Posted February 26, 2005 Ramsey will be next for development and to be honest with you i welcome it because ramsey is stagnating at the moment. I'd like to see the sewage problem addressed before any further significant building is allowed. Perhaps a deal can be struck as part of the planning application process. A short term solution before Ramsey is (one day) connected to the magic island - wide system. It's unacceptable that disposable nappies, sanitary products and poos are being pumped into the bay - and back onto the beach. Link to comment Share on other sites More sharing options...
Observer Posted February 26, 2005 Share Posted February 26, 2005 Poo is a really funny word don't you think? But yes, it is totally unacceptable - totally minging in fact. Link to comment Share on other sites More sharing options...
simon Posted February 26, 2005 Share Posted February 26, 2005 Poo is a really funny word don't you think? Poo is a funny word. But it's also a word which just describes very well what we're talking about. We can all picture, and react to, a poo. Less poos good. More poos bad. Link to comment Share on other sites More sharing options...
Observer Posted February 27, 2005 Share Posted February 27, 2005 Heh! Poo. Link to comment Share on other sites More sharing options...
commbdown Posted February 27, 2005 Share Posted February 27, 2005 [deleted] Link to comment Share on other sites More sharing options...
waddy Posted February 27, 2005 Share Posted February 27, 2005 My twisted Opinion: I have been watching the House Prices on a select number of properties over the last 6 months, i have not seen any of them drop their prices yet, even though there is a slow down in the market due to the interest rate increase etc. I am sure you could now go in with a "reduced offer" on a property compared to last year. The new Tax they are talking about regarding, speculators may have a knock on effect next year and may "level" the prices, the rises over the past years have to be unsustainable. The amount of Apartments going up is staggerring, the knock on effect may be good for the market, as the fools are flooding it, less people renting, less investment in Houses, prices may drop. I went and looked at some apartments at the Old Central Hotel next to the Villa a while ago, they were so damn small, i am guessing thats the reason those ones havent sold. As Queens Mansions Apartments sold straight away (2 Bedroom). . . . . . . . . . . Link to comment Share on other sites More sharing options...
Slim Posted February 27, 2005 Share Posted February 27, 2005 If you've been watching something that hasn't sold for six months, then it's price is too high. Link to comment Share on other sites More sharing options...
Slim Posted February 27, 2005 Share Posted February 27, 2005 Absolutely, the price that's on the estate agents window isn't the value. The value is what it gets sold for. Link to comment Share on other sites More sharing options...
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