House price inflation by £1000 per week ?

[Omobono]

40 minutes ago, Annoymouse said:

It’s a versatile shell, i think most would be looking to convert it into flats as other neighbouring properties have done, 5 floors so five flats, you’d expect approx100k for each flat when finished. Could it be done with a budget of 45k per flat? I think the property probably needs to be closer to 180k-200k to leave a decent contingency. 

sorry the landlords regulations will have put paid to that , who wants the hassle , everyone said this would happen when the tenants  had more rights than the landlord  ,and  now bound with so much government  red tape , 

[Non-Believer]

1 hour ago, Newsdesk said:

Just when you thought you’d seen everything

https://www.chrystals.co.im/developments/property/11598821-tynwald-street-douglas

"City prices"..... 😂

[Roger Mexico]

1 hour ago, Annoymouse said:

It’s a versatile shell, i think most would be looking to convert it into flats as other neighbouring properties have done, 5 floors so five flats, you’d expect approx100k for each flat when finished. Could it be done with a budget of 45k per flat? I think the property probably needs to be closer to 180k-200k to leave a decent contingency. 

Not even any planning permission though.  And comparing to the building next door suggests structural issues.

[hissingsid]

Needs knocking down along with a lot of other properties in that area of the City.

[doc.fixit]

The city............what a stupid title for Douglas.

[english zloty]

1 minute ago, doc.fixit said:

The city............what a stupid title for Douglas.

think Gotham. Only a downmarket version

[Non-Believer]

3 hours ago, english zloty said:

think Gotham. Only a downmarket version

However, we have Batman Amadeus and his Robin of a city council to clean the act up...to take on the Jokers and Penguins of Central Govt....

[x-in-man]

Like this?

[Wavey Davey]

1 hour ago, x-in-man said:

Like this?

Is that Amadeus and Devon Watson the saviours of Douglas City? 

[2112]

22 hours ago, Roger Mexico said:

Not even any planning permission though.  And comparing to the building next door suggests structural issues.

That building has been wanting modernisation for a very long time. For all those who suggest, that it could be turned into a house, aimed at FTB, I would suggest that they are not living in the real world. It’s a large building, and has a large rear outlet where other buildings (in the street ) have a rear yard - it’s currently used as a workshop (and it’s in poor condition). Incidentally there is a two bed property a few yards away for sale - good sized but needs lots of work, FTB unlikely, also been on the market for a while. 

Edited July 16, 2022 by 2112

[2112]

I don’t know if anyone on here has heard Minister Thomas on the NPM  appealing to landlords, for property to house ‘key workers’? He is using the word crisis! In all honesty, he was part of the previous administration which passed the Landlord Registration Act, and was hell bent on demonising Landlords especially those Private Sector as ‘evil personified’. In the same breath it is the same private sector which CM Cannan in his cunning plan, who he wants to do his heavy lifting. 
 

There is a housing crisis as landlords and accidental and small time landlords have had enough and want to cash in whilst the prices are good. IOMG have punished and demonised landlords, and now they need landlords help. I can’t see that happening somehow. IOMG have created the crisis and it will be years before things come good. It must have been hard for Minister Thomas to hit the airwaves pleading for the private rental sector to do their dirty work. 

[Passing Time]

1 minute ago, 2112 said:

I don’t know if anyone on here has heard Minister Thomas on the NPM  appealing to landlords, for property to house ‘key workers’? He is using the word crisis! In all honesty, he was part of the previous administration which passed the Landlord Registration Act, and was hell bent on demonising Landlords especially those Private Sector as ‘evil personified’. In the same breath it is the same private sector which CM Cannan in his cunning plan, who he wants to do his heavy lifting. 
 

There is a housing crisis as landlords and accidental and small time landlords have had enough and want to cash in whilst the prices are good. IOMG have punished and demonised landlords, and now they need landlords help. I can’t see that happening somehow. IOMG have created the crisis and it will be years before things come good. It must have been hard for Minister Thomas to hit the airwaves pleading for the private rental sector to do their dirty work. 

Isle of Man government are Midas in reverse - everything they touch turns to shite...

[Bandits]

5 minutes ago, 2112 said:

I don’t know if anyone on here has heard Minister Thomas on the NPM  appealing to landlords, for property to house ‘key workers’? He is using the word crisis! In all honesty, he was part of the previous administration which passed the Landlord Registration Act, and was hell bent on demonising Landlords especially those Private Sector as ‘evil personified’. In the same breath it is the same private sector which CM Cannan in his cunning plan, who he wants to do his heavy lifting. 
 

There is a housing crisis as landlords and accidental and small time landlords have had enough and want to cash in whilst the prices are good. IOMG have punished and demonised landlords, and now they need landlords help. I can’t see that happening somehow. IOMG have created the crisis and it will be years before things come good. It must have been hard for Minister Thomas to hit the airwaves pleading for the private rental sector to do their dirty work. 

I can’t work out the point of this. It’s just another bloody form to fill in. There’s no benefit to the landlord as they can let property out anyway due to excess remand for rentals so why fill in yet another bloody form for another bloody government department to let your property to a particular type of tenant? Start offering tax incentives or subsidies and you might be talking - but a pointless register of everything that’s already listed on Facebook or estate agents websites to rent seems to be a completely pointless exercise. Do teachers not use the internet?

[2112]

Good old Minister Thomas, Manx Solutions to Manx problems, more registration. 

[Bandits]

28 minutes ago, 2112 said:

Good old Minister Thomas, Manx Solutions to Manx problems, more registration. 

It’s not Thomas though is it? Just some idiot civil servant “solution”. How many more properties do they think filling a special form in will yield? If you have a property and you want to rent it demand currently outstrips supply. There isn’t anyone sat there going “I’m not going to rent my property out and I’m just going to do without the £750/850/950 a month I could get”. If it’s that bad then give tax breaks for people to let to key workers. Or give key workers rent support so they can outbid private sector renters. But filling in yet another pointless form when if your property is empty it’s likely already on Facebook or with an agent because you WANT ago find tenants to take it. Nobody is secretly hoarding empty property at a 0% investment yield just to piss school teachers off. 

As the looming landlord and tenant act is taking even more rentals off the market being sold to the private market the situation is only going to get worse. Even with some silly form. 

Edited August 3, 2022 by Bandits