asitis Posted November 16, 2021 Share Posted November 16, 2021 39 minutes ago, pongo said: Access to lending would be a different question. But I do not believe that price is the issue. The result is the same ! I was told of young couples who have been turned down for a mortgage, whose repayment costs are less than they are paying in rent ! I believe developers are paying lip service to the first time buyer market as they want the leverage to build their tat mansions on green fields ! 4 Quote Link to comment Share on other sites More sharing options...
pongo Posted November 16, 2021 Share Posted November 16, 2021 4 minutes ago, asitis said: I believe developers are paying lip service to the first time buyer market So how much do you believe a basic first property should cost? An apartment suitable for a couple on minimum wage and not yet earning enough to afford children. You said that you thought £250k is too much. Quote Link to comment Share on other sites More sharing options...
asitis Posted November 16, 2021 Share Posted November 16, 2021 34 minutes ago, pongo said: So how much do you believe a basic first property should cost? An apartment suitable for a couple on minimum wage and not yet earning enough to afford children. You said that you thought £250k is too much. Everyones circumstances are different ! however banks aren't easy, if you are a couple on relatively meagre wages at the beginning of your working lives, large deposits are not easy to come by, especially whilst paying rents etc ! and to take on debts of these magnitudes to me seems a huge step ! For some maybe 250k is not a worry, to others it is perhaps a step too far ! There is no answer to what is the right price, but as sure as hell young people do need a leg up to get on the ladder and equally as sure as hell developers aren't interested in helping them ! Quote Link to comment Share on other sites More sharing options...
Ramseyboi Posted November 16, 2021 Share Posted November 16, 2021 3 minutes ago, asitis said: if you are a couple on relatively meagre wages at the beginning of your working lives ........ then you have never been able to afford to buy your own property. This isn't a new thing. Quote Link to comment Share on other sites More sharing options...
pongo Posted November 16, 2021 Share Posted November 16, 2021 @asitis - on the IOM one can buy a good purpose built apartment, suitable for first time buyers on low wages for under £130K. That seems fairly affordable. I know that people always like to hate on developers - but is it not thanks to the developers that there is so much relatively affordable property? Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted November 16, 2021 Share Posted November 16, 2021 Increasing population numbers and a lack of corresponding increase in available social housing? And without going down the usual forum route of argument about Sky TV, fags, nail jobs and phones...what about rising costs and taxes sucking away disposable income? Quote Link to comment Share on other sites More sharing options...
Ramseyboi Posted November 16, 2021 Share Posted November 16, 2021 18 minutes ago, Non-Believer said: Increasing population numbers and a lack of corresponding increase in available social housing? And without going down the usual forum route of argument about Sky TV, fags, nail jobs and phones...what about rising costs and taxes sucking away disposable income? Have the people you are presumably talking about ever been able to buy property on the island at any point in history? Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted November 16, 2021 Share Posted November 16, 2021 (edited) 5 minutes ago, Ramseyboi said: Have the people you are presumably talking about ever been able to buy property on the island at any point in history? Possibly not, which is why I raise the point about the amount of social housing available? They will certainly never set foot on the ownership ladder if they are paying current rental rates which would largely preclude getting a deposit together at that income level. Again, look at rising cost of living and taxation too - most of which has been regressive, recently. Somebody recently posted this graph on these boards, my credit to them. Edited November 16, 2021 by Non-Believer extra bit 1 Quote Link to comment Share on other sites More sharing options...
pongo Posted November 16, 2021 Share Posted November 16, 2021 1 hour ago, offshoremanxman said: Well an 8 x joint income borrowing multiple is bonkers to set a benchmark with its more like 5 x £32K which is £160K which should be more like it. To be clear, I am not suggesting that anyone should (or could normally) borrow at 8x a joint salary. The average UK property however is at appx 8x average salary in many parts of the UK. That is my reference point. Quote Link to comment Share on other sites More sharing options...
2112 Posted November 17, 2021 Share Posted November 17, 2021 Well according to the Nations Propaganda Mouthpiece this morning Hoopermans motion, was pulled to allow discussion between the DOI and the Developers. The Manx Wildlife Trust themselves say there has been a lack of discussion. With the DOIs record of discussing major capital project schemes either public, private or joint I really doesn’t bode well for the island, based upon the DOIs history of .‘discussion’. 2 Quote Link to comment Share on other sites More sharing options...
CallMeCurious Posted November 18, 2021 Share Posted November 18, 2021 On 11/17/2021 at 8:27 AM, 2112 said: Well according to the Nations Propaganda Mouthpiece this morning Hoopermans motion, was pulled to allow discussion between the DOI and the Developers. The Manx Wildlife Trust themselves say there has been a lack of discussion. With the DOIs record of discussing major capital project schemes either public, private or joint I really doesn’t bode well for the island, based upon the DOIs history of .‘discussion’. See Marina shills already trying to discredit MWT probably because they thought they had been 'bought'. The DoI ought to be very,very careful how they deal with this. It looks like the Marina shills wouldn't hesitate to bad mouth anyone who gets in their way if it suits them. Love the way they keep saying "we'll be improving the marine environment...." as if it is a fact. It's not. Could just as easily go the other way and it'll be "not us guv' climate change innit!". 1 Quote Link to comment Share on other sites More sharing options...
Peter Layman Posted November 18, 2021 Share Posted November 18, 2021 50 minutes ago, CallMeCurious said: See Marina shills already trying to discredit MWT probably because they thought they had been 'bought'. The DoI ought to be very,very careful how they deal with this. It looks like the Marina shills wouldn't hesitate to bad mouth anyone who gets in their way if it suits them. Love the way they keep saying "we'll be improving the marine environment...." as if it is a fact. It's not. Could just as easily go the other way and it'll be "not us guv' climate change innit!". Have you always been stupid or is this a recent thing? Quote Link to comment Share on other sites More sharing options...
hissingsid Posted November 18, 2021 Share Posted November 18, 2021 The only thing these development merchants are interested in is the housing estate and if they make a big profit they will then build a Marina. Fat chance of that, they will make a profit on the houses but with the price of Labour and materials escalating after the developers get their cut there will not be enough to build a Marina. They are selling this under the guise of a Marina how deceptive is that. 1 1 Quote Link to comment Share on other sites More sharing options...
b4mbi Posted May 18, 2022 Share Posted May 18, 2022 Dr Allinson was on MR yesterday, growing frustrated with the lack of progress, saying it's been talked about for 5 years but nothing has happened. "Where's the money?" was his line... They've not even submitted a planning application yet, can you imagine how long that's going to take...and the cost thereof.. with all the professional fees/surveys/reports involved, doubt they'd have much change from £500k, just for the application. No-one is going to put any substantial money into this before they've got planning, and even then, the back of a fag packet figures just don't stack up for their existing proposals IMHO. 2 Quote Link to comment Share on other sites More sharing options...
doc.fixit Posted May 18, 2022 Share Posted May 18, 2022 Need to fix the harbour walls in Ramsey first, the sunken gardens and the walls in Douglas and the pollution in Peel harbour before setting out on any other grandiose schemes. Typical of all that's wrong with gov, at the moment. 1 2 Quote Link to comment Share on other sites More sharing options...
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