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"Arthur Daley" Estate Agent practices


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Posted (edited)
1 minute ago, The Dog's Dangly Bits said:

You say that like there is something wrong with that?

It is what it is, economically makes sense because it still rented. But the market right now is playing right in to the agents hands and it demonstrates just how inflated the market is becoming.

Have a client with £5k/mo budget that has been looking to move over for some time now offering well above market rents to find somewhere. But pets won't work. Given a choice, landlords don't do pets generally if they can avoid it.

This is also why I disagree with some of the elder statesmen of former politicians here arguing against housing being snapped up by investment for rentals. The rental market desperately needs more capacity.

Edited by jaymann
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1 minute ago, jaymann said:

It is what it is, economically makes sense because it still rented. But the market right now is playing right in to the agents hands and it demonstrates just how inflated the market is becoming.

I  dont disagree but it's supply and demand.  There is clearly a large demand (which is interesting because if you believe the shite spouted on here by the usual suspect (s) you would think everyone was leaving).

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As someone whose been active in property on and of in the last few years I can honestly say, I quite often don’t believe a word some E.A say. The worry is not all our youngsters work for Brewster wages and if there parents can’t help they will never get on the property ladder or for that matter afford huge rents, It’s also completely understandable that investors put savings into property as banks give you diddly squat, so it comes down the government to release land for starter homes going up to 3 beds built at cost and not another cash cow for developers it really shouldn’t be that hard for a proactive Iom gov to achieve.

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Posted (edited)
16 minutes ago, jaymann said:

The rental market desperately needs more capacity.

 in some cases people are forced to rent because the banks deem the renters not able to afford to buy even though their mortgage payments would be less than their rent.

Edited by Pipsqueak
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1 minute ago, GreyWolf said:

As someone whose been active in property on and of in the last few years I can honestly say, I quite often don’t believe a word some E.A say. The worry is not all our youngsters work for Brewster wages and if there parents can’t help they will never get on the property ladder or for that matter afford huge rents, It’s also completely understandable that investors put savings into property as banks give you diddly squat, so it comes down the government to release land for starter homes going up to 3 beds built at cost and not another cash cow for developers it really shouldn’t be that hard for a proactive Iom gov to achieve.

No big fat profit for the "right" people so it'll never happen!

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Just now, Pipsqueak said:

only in some cases because the banks deem the renters not able to afford to buy.

Plenty of 30yr old who can't get on the housing ladder, some related to me. Most in decent employment but can't get deposits and repayments of that ilk together with the current price tickets.

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Posted (edited)
13 minutes ago, Pipsqueak said:

 in some cases people are forced to rent because the banks deem the renters not able to afford to buy even though their mortgage payments would be less than their rent.

Far more to owning a house than the monthly cost of a mortgage.  That is very naive.

Edited by The Dog's Dangly Bits
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10 minutes ago, finlo said:

No big fat profit for the "right" people so it'll never happen!

That's stupid and makes no sense.  Why would any private enterprise enter into building a large housing estate for nothing?  It's got fuck all to do with the "right " people.

What Grey Wolf is effectively advocating is the government create a department that is basically a not for profit housing development company.

 

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Posted (edited)
24 minutes ago, GreyWolf said:

As someone whose been active in property on and of in the last few years I can honestly say, I quite often don’t believe a word some E.A say. The worry is not all our youngsters work for Brewster wages and if there parents can’t help they will never get on the property ladder or for that matter afford huge rents, It’s also completely understandable that investors put savings into property as banks give you diddly squat, so it comes down the government to release land for starter homes going up to 3 beds built at cost and not another cash cow for developers it really shouldn’t be that hard for a proactive Iom gov to achieve.

We need some not for profit housing associations over here , seeded by government with land . The HAs can then get suitable housing built for rent/sale  with part ownership/rent being used as part deposit etc .locals could then get on property ladder.

The requirements for affordable housing on estates & government mortgage scheme don’t work for a lot of people.

Edited by Banker
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1 hour ago, The Dog's Dangly Bits said:

That's stupid and makes no sense.  Why would any private enterprise enter into building a large housing estate for nothing?  It's got fuck all to do with the "right " people.

What Grey Wolf is effectively advocating is the government create a department that is basically a not for profit housing development company.

 

So you're telling me that vested interests don't rule the roost here?

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1 hour ago, finlo said:

So you're telling me that vested interests don't rule the roost here?

Vested interests? How do you mean?

As I said, if you follow Grey Wolf's logic then effectively you are getting government (or an offshoot of government) to act as a not for profit property developer.

Extending that further, is there then q suggestion that they build the houses and sell them at "cost" and then let the buyer sell them on the open market in the future?

 

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8 minutes ago, The Dog's Dangly Bits said:

Vested interests? How do you mean?

As I said, if you follow Grey Wolf's logic then effectively you are getting government (or an offshoot of government) to act as a not for profit property developer.

Extending that further, is there then q suggestion that they build the houses and sell them at "cost" and then let the buyer sell them on the open market in the future?

 

Nothing wrong with the principal just controls required to prevent profiteering.

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More public housing or just more houses as the solution? Won’t be happening in any back yard soon. People give it the eco shit when it comes to new build but usually living in a house that was fields 40 yrs ago... 

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Plenty of nails being hit on the head here. The idea of cheap housing being built is great but who does stuff like that for little or no profit? and also what about the NIMBY squad.

There remains a proportion of social housing on the Island that is being occupied by people who could afford to move on but like a house at a cheap rent or whose kids have flown the nest and are occupying a property that should have a current family in it.

Suggest or try to get these people to make way for others and it's MHK and local press battle stations. 

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