The Venue Saved!

[kellyiom]

just to add my stuff;

 

1) there's no way HH built 50% of the houses in peel to sell/rent them on to the commissioners; as far as I know there was a temporary need to rehouse perhaps 10 families while the redevelopment of boilley spittal took place. I know some properties were bought by DoLGE but we're talking ten, tops. I'd say 90% of those houses are privately owned. About 10 or 20 of them were purchased under the govt first time buyer scheme

2) there is a way of identifying trends in UK-wide property; check out the office of the deputy prime minister (odpm.gov.uk) and the UK Land Registry. Investment property databank (ipdglobal.com) also provide some useful stats on commercial property..useful if you're wanting to speculate and catch an area developing quickly..

3) House price inflation is slowing on the Island that's for sure..that's not to say prices are going down tho; you can make a fair comparison by HHs own price lists. Eg, in Ballawattleworth in 2003, they were asking between £175k and £182k for a 3bed semi Ferndale type; now on the other development in peel called ballatessan meadow, they're asking £196k upwards for an identical house. Allowing for a more expensive plot of land and inflation, this is still a marginal increase.

4) I agree with slim on this about the overall 'affordability' - sellers are still asking relatively unrealistic prices. It's got to be a market for buy-to-let investors I fear still tho as the forthcoming cuts in base rates should keep the less sophisticated investors in the game for another few quarters yet..

5) The venue opened in 1999, I'm certain; its first night was a midweek mess I'm sure but think it might have been open under a different name for TT Filth..anyone can shed some light on this would help me rest me brain!

6) definitely personally think that we've had an apartment overload, me heart goes out to anyone concerned over their buy to let investment, hope they don't have too many sleepless nights.

[Cret]

After looking in the cowley groves 'papers' on a regular basis over the last 6 months or so there seem to be more & more houses now each month that have reduced signs on the ads.

 

Must account for something along the lines of some sellers realising they can't take the p1zz quite as much as they'd like to?

[Loki]

I think it is a Slim has said, its a nervous market and people are not sure which way the house prices will go.

 

Some people might be selling at reduced prices to make less profit on a house than possibly making no profit at all if they wait a bit longer.

[kellyiom]

yep, think you're right; what you hear from people points to much more than the amazing forecasts from the estate agents, amazing pieces of fiction, worthy of tynwald!

[The Old Git]

It was more like 2001 when it opened

<{POST_SNAPBACK}>

Can't remember the year, but didn't it initially open just for the TT period and then took quite some time before re-opening properly?

<{POST_SNAPBACK}>

 

I was definitely there one TT week, possibly 1998

[the_kitty]

I remember i was in my last year at school when it opened so it would have been late 2000 possibly

[sideways]

it did open TT week for a year or two before it opened as an all year round venue , so if it opened in 2000 it would have been a TT venue in 98.

 

getting old, hope my memory is working correctly