TheTool Posted November 21, 2005 Share Posted November 21, 2005 Don't wish to say i told you so but i told you so, i said this 18 months ago that prices would fall. Most people cannot afford a house it's got nothing to do with chrimbo. And there will be another 300 to 400 new properties on the market this time next year. Forgive me if i am being thick but this sort of market makes prices drop right ? Link to comment Share on other sites More sharing options...
sirdick Posted November 22, 2005 Share Posted November 22, 2005 There does still seem to be a large amount of property which has been poorly and quickly renovated to be quickly put back on the market. And if you think back 18 months or 2 years than you can see why people still think (or desperately hope) that they can get away with this kind of thing. Perhaps the DIY efforts would reduce if they got rid of most (if not all) of those crappy renovation/property ladder programmes. They encourage people to botch a crappy house together for a quick profit. I'm all for buying a cheap house and having it done up to make it a nice home (like anything built by Dandara), but there aren't any, they're all over priced. Unfortunately I'm not in a position to begin saving for a house at the moment, but I would like to in the next year or two but I can't see me being able to practically afford anything. Most of the houses just aren't worth what they're wanting for them. Link to comment Share on other sites More sharing options...
TheTool Posted November 22, 2005 Share Posted November 22, 2005 Well said sirdick The sooner people stop thinking of buying a house and instead start thinking of buying a home the better. I think most of us are sick of seeing these do it up and sell programs. What i would like to see is programs on people buying a old wreck and turning them into a great home. Personally i like Grand Designs and programs like that, the other programs are same old same old. Link to comment Share on other sites More sharing options...
manxchatterbox Posted November 24, 2005 Share Posted November 24, 2005 Considering house prices -- who ever believes everything that an estate agent says ?? Don't they just spin whatever is really happening to make it look as thought everything is okay with their own particular business - i.e agency A isn't going to say they are having difficulty selling 'cos vendors will just place their properties with agency B. The only true way to establish what is happening is to obtain stats from the Registry as to how many property transactions have been recorded compared to previous periods and what the prices have been...but I'don't know if our Registry complies monthly or quarterly figures and in what format - does anyone know??? Link to comment Share on other sites More sharing options...
matty Posted November 24, 2005 Share Posted November 24, 2005 Well said sirdick The sooner people stop thinking of buying a house and instead start thinking of buying a home the better. I think most of us are sick of seeing these do it up and sell programs. What i would like to see is programs on people buying a old wreck and turning them into a great home. Personally i like Grand Designs and programs like that, the other programs are same old same old. With you 100% on this one, maybe there could be some sort of speculator "tax" or law that will stop people owning more than two "homes" on the Island at anyone time - let's face it you can't live in more than one home at any one time, if you own more than one, then IMHO you're just being greedy by not letting people who want to own get a chance into getting onto the property "ladder". - I'm sick of all of these "DIY" programmes that just encourage people with money to take chances away from those who don't have the money from buying houses. Link to comment Share on other sites More sharing options...
TheTool Posted November 24, 2005 Share Posted November 24, 2005 Well i am afraid matty that until alan bell gets a backbone and brings in the tax law that he was going to things will only get worse. The average man on the street who wants to put down some roots is just not getting the chance he deserves. It's ok for people who have a home but think of people like myself renting and not being able to do what you want, a rented house is never going to feel like a home no matter what you do to it. All most people want is a chance. This is part the reason why i am still thinking of moving to the UK, at least i will get on the property ladder there. Link to comment Share on other sites More sharing options...
matty Posted November 25, 2005 Share Posted November 25, 2005 LOL! Alan Bell & "backbone" in the same sentence??? - Sorry - made me laugh!!!!!!! - Edited to add... - Suppose it depends on your definition of "backbone", maybe's he's had a few??? (Sorry Mods......) Link to comment Share on other sites More sharing options...
Slim Posted November 25, 2005 Share Posted November 25, 2005 They did try to introduce a formal tax on property speculation but there was an uproar. As we established last time this came up, you can be charged tax on property if it was proved that you bought and sold it purely as an investment. No idea how many people actually get caught with this. Having said that, there's virtually no property investor market at the moment, because house price inflation is so low, so it's not really part of the problem right now. Tool: I know your praying for a crash, but I can't see it happening. What's happening is the prices aren't booming any more, but they're not crashing either. It'll take many years before houses become 'affordable' at current rates of inflation vs house price growth. Link to comment Share on other sites More sharing options...
Blixo Posted November 25, 2005 Share Posted November 25, 2005 Well i am afraid matty that until alan bell gets a backbone and brings in the tax law that he was going to things will only get worse. The average man on the street who wants to put down some roots is just not getting the chance he deserves. It's ok for people who have a home but think of people like myself renting and not being able to do what you want, a rented house is never going to feel like a home no matter what you do to it. All most people want is a chance. This is part the reason why i am still thinking of moving to the UK, at least i will get on the property ladder there. A little well connected birdy told me they are considering doing the opposite… Tax breaks for property speculators. can only say what I've been told... try asking your MHK.. maybe that's why Heritage etc are building so many flats?? Link to comment Share on other sites More sharing options...
rallybug Posted November 25, 2005 Share Posted November 25, 2005 Considering house prices -- who ever believes everything that an estate agent says ?? Don't they just spin whatever is really happening to make it look as thought everything is okay with their own particular business - i.e agency A isn't going to say they are having difficulty selling 'cos vendors will just place their properties with agency B. The only true way to establish what is happening is to obtain stats from the Registry as to how many property transactions have been recorded compared to previous periods and what the prices have been...but I'don't know if our Registry complies monthly or quarterly figures and in what format - does anyone know??? Having never sold a property (heck, still waiting to complete on the first purchase ), do the estate agents take a percentage of the sale price for their commission? If so, part of the rise in house prices could surely be laid at their door - the higher a house sells for, the more money they make Link to comment Share on other sites More sharing options...
Willy Wombat Posted November 25, 2005 Share Posted November 25, 2005 Tool: I know your praying for a crash, but I can't see it happening. What's happening is the prices aren't booming any more, but they're not crashing either. It'll take many years before houses become 'affordable' at current rates of inflation vs house price growth. In Glen Auldyn I am seeing houses not selling and the price dropping. The big boom is over, I agree 100% with capital gains tax on housing. Link to comment Share on other sites More sharing options...
Slim Posted November 25, 2005 Share Posted November 25, 2005 A little well connected birdy told me they are considering doing the opposite… Tax breaks for property speculators. can only say what I've been told... try asking your MHK.. maybe that's why Heritage etc are building so many flats?? You sure your not mixing up speculators with developers? Link to comment Share on other sites More sharing options...
doodlebug Posted November 25, 2005 Share Posted November 25, 2005 Well i am afraid matty that until alan bell gets a backbone and brings in the tax law that he was going to things will only get worse. The average man on the street who wants to put down some roots is just not getting the chance he deserves. It's ok for people who have a home but think of people like myself renting and not being able to do what you want, a rented house is never going to feel like a home no matter what you do to it. All most people want is a chance. This is part the reason why i am still thinking of moving to the UK, at least i will get on the property ladder there. A little well connected birdy told me they are considering doing the opposite… Tax breaks for property speculators. can only say what I've been told... try asking your MHK.. maybe that's why Heritage etc are building so many flats?? I am stuck with renting at an over-the-top, barely affordable, price - £750 for a poky 2 bed house! I have 3 children, and it's difficult to cram us all in. Personally I think a good step would be to have rent control (like they used to have many years ago) at an affordable cost - say a max of £200 per bedroom - that would stop people "buying to let" at current house prices (who the hell is paying off their mortgages anyway?) and maybe prices would fall making it just a teensy bit possible that we may at some stage before we fall off the branch be able to actually buy somewhere. As someone else has already said a rented property will never really feel like home. There is no security in it anyway - what if the owner decides to sell? Also many landlords specifically say "no children" which makes it difficult. We are on the Commissioners list, but it will snow at the equator before we actually get a house (and to be honest it's not something I really want to have to do anyway). Link to comment Share on other sites More sharing options...
Blixo Posted November 25, 2005 Share Posted November 25, 2005 A little well connected birdy told me they are considering doing the opposite… Tax breaks for property speculators. can only say what I've been told... try asking your MHK.. maybe that's why Heritage etc are building so many flats?? You sure your not mixing up speculators with developers? Nope I am stuck with renting at an over-the-top, barely affordable, price - £750 for a poky 2 bed house! I have 3 children, and it's difficult to cram us all in. Personally I think a good step would be to have rent control (like they used to have many years ago) at an affordable cost - say a max of £200 per bedroom - that would stop people "buying to let" at current house prices (who the hell is paying off their mortgages anyway?) and maybe prices would fall making it just a teensy bit possible that we may at some stage before we fall off the branch be able to actually buy somewhere. As someone else has already said a rented property will never really feel like home. There is no security in it anyway - what if the owner decides to sell? Also many landlords specifically say "no children" which makes it difficult. We are on the Commissioners list, but it will snow at the equator before we actually get a house (and to be honest it's not something I really want to have to do anyway). I agree, I'm in a simliar position (minus the children) Link to comment Share on other sites More sharing options...
Stavros Posted November 25, 2005 Share Posted November 25, 2005 but it will snow at the equator before we actually get a house Mt. Kilamanjaro in Tanzania, the Mt. Cayambe in Equador, Mt. Cotacachi also in Equador, and Mt. Kenya in the Maasai Mara National Reserve in Kenya are well-known for getting cold enough to have snow even though they are very near the equator. Stav. Link to comment Share on other sites More sharing options...
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