Non-Believer Posted January 9, 2020 Share Posted January 9, 2020 1 minute ago, GD4ELI said: Also if you have children there's university payments, entitlements to think about. If you're a grumpy bugger who just likes to walk around with his dog and go for an occasional pint then it's a terrific place, but not quite so for a young-ish family. I'm a grumpy bugger with an equally grumpy dog but even the occasional pint is getting to be a financial stretch these days. Link to comment Share on other sites More sharing options...
woolley Posted January 9, 2020 Share Posted January 9, 2020 6 minutes ago, GD4ELI said: If you're a grumpy bugger who just likes to walk around with his dog and go for an occasional pint then it's a terrific place, but not quite so for a young-ish family. The relocation team will be in touch, G4. Link to comment Share on other sites More sharing options...
GD4ELI Posted January 9, 2020 Share Posted January 9, 2020 2 minutes ago, woolley said: The relocation team will be in touch, G4. Wait a few years please... Link to comment Share on other sites More sharing options...
gettafa Posted January 10, 2020 Share Posted January 10, 2020 On 1/9/2020 at 10:33 AM, Grounds Keeper Willy said: But people seem quite happy for them to sit vacant rather than ask for an affordable rent which I find strange. Market forces prevail On 1/9/2020 at 11:05 AM, Grounds Keeper Willy said: It’s just a confusing market I was helping a friend of a friend who was moving here to do some flat hunting a few months ago and honestly I wouldn’t have paid to rent any of the overpriced old tat we went round. Market forces prevail Link to comment Share on other sites More sharing options...
hissingsid Posted January 11, 2020 Share Posted January 11, 2020 One of the estate agents was on MR today saying there was no first time buyers houses around, my friend has been trying to sell a very well maintained terraced house for about a year, just sold well below asking price well under £200000 quid about £ 180000 in the end. New bathroom, kitchen, three beds so there are houses around just not new build. I wonder if these Estate agents have shares in one of the building firms. There are plenty of houses for sale, I expect selling new build is easier. Link to comment Share on other sites More sharing options...
Ham_N_Eggs Posted January 12, 2020 Share Posted January 12, 2020 13 hours ago, hissingsid said: One of the estate agents was on MR today saying there was no first time buyers houses around, my friend has been trying to sell a very well maintained terraced house for about a year, just sold well below asking price well under £200000 quid about £ 180000 in the end. New bathroom, kitchen, three beds so there are houses around just not new build. I wonder if these Estate agents have shares in one of the building firms. There are plenty of houses for sale, I expect selling new build is easier. The building firms don't tend to build first time buyers in these new estates they're throwing up. Link to comment Share on other sites More sharing options...
Non-Believer Posted January 12, 2020 Share Posted January 12, 2020 29 minutes ago, Ham_N_Eggs said: The building firms don't tend to build first time buyers in these new estates they're throwing up. I thought that it was a stipulation in SOME planning approvals that "X" number of the properties had to be 1st time buyers/"affordable" designations? Though exactly what "affordable" is, might be open to interpretation? And by definition does that mean that the other properties are "unaffordable"? New builds are far easier to shift, no contest. A ten year NHBC warranty covering most things. Far easier to obtain a mortgage on. And far easier on both the mind and the wallet. The alternative is to buy some overpriced money pit that needs subsequently needs the next 20 years salary spending on it either to update it or rectify underlying problems. Been there, done that personally. Link to comment Share on other sites More sharing options...
Roger Mexico Posted January 12, 2020 Share Posted January 12, 2020 As is not entirely unexpected this 'story' from IOM Newspapers has finally been published and it turns out that this 'news' is indeed based on the Quarterly Economic Report that was published in November (they don't of course admit this). Any extra analysis consists of ringing round some estate agents, who are all, you will be deeply shocked to find out, absolutely sure that the market is really buoyant and everyone should rush to buy houses now[1]. These latest figures do show that prices are down slightly on year on year Though that in the context of them having risen about 5% in the year previous to that, so it's not a massive readjustment. However the rolling yearly total of the number of transactions is also down and may indeed have dropped below 1000 for the first time for some years: Now as the QER always reminds us, these figures are always very provisional. There is a three month leeway for registering so not all sales will be included and the more expensive properties are the ones most likely to be omitted at first because they will tend to have the more complicated legal situations that might delay registration. But the July figures were the first for a while where the numbers matched and it might suggest a market with falling numbers of sales and in which there is a particular slowdown on higher priced properties. [1] Given the amount of advertising estate agents buy , it may just be the whole piece is really just to tickle the egos of some of their biggest financial contributors. Link to comment Share on other sites More sharing options...
Non-Believer Posted January 12, 2020 Share Posted January 12, 2020 Mr Thomas quick to contribute in the comments section to the IoM Newspapers article in the above post too... Personally speaking, I'd rephrase the estate agent's "bullish" with "bullshittish" at the best of times. Link to comment Share on other sites More sharing options...
Chris Thomas Posted January 12, 2020 Share Posted January 12, 2020 1 hour ago, Roger Mexico said: As is not entirely unexpected this 'story' from IOM Newspapers has finally been published and it turns out that this 'news' is indeed based on the Quarterly Economic Report that was published in November (they don't of course admit this). Any extra analysis consists of ringing round some estate agents, who are all, you will be deeply shocked to find out, absolutely sure that the market is really buoyant and everyone should rush to buy houses now[1]. These latest figures do show that prices are down slightly on year on year Though that in the context of them having risen about 5% in the year previous to that, so it's not a massive readjustment. However the rolling yearly total of the number of transactions is also down and may indeed have dropped below 1000 for the first time for some years: Now as the QER always reminds us, these figures are always very provisional. There is a three month leeway for registering so not all sales will be included and the more expensive properties are the ones most likely to be omitted at first because they will tend to have the more complicated legal situations that might delay registration. But the July figures were the first for a while where the numbers matched and it might suggest a market with falling numbers of sales and in which there is a particular slowdown on higher priced properties. [1] Given the amount of advertising estate agents buy , it may just be the whole piece is really just to tickle the egos of some of their biggest financial contributors. Thank you for identifying and dating the source for the newspaper article, and also for putting the possible small decline in its context. But the reason the July figures matched was because “data on the housing market has not been updated as due to changes in Land Registration fees which came into place on 1 September 2019, many transactions were not lodged which would have significantly distorted any statistics produce for the quarter,” citing the quarterly report from that quarter. Also the figures will be adjusted for 12 months not 3, as: ”all property market data is based on the latest available data from the Land Registry. There is a time lag in transactions taking place and being registered with the Land Registry. This is shown by the difference between the first estimate, which is taken at the end of the applicable quarter and the latest estimates which include transactions which were not lodged until after the first estimate was produced. Data is revised for up to 12 months after the first estimate has been published, after which point the data is considered final. The number of transactions can increase by 25% between the first estimate and the final estimate 12 months later”. Link to comment Share on other sites More sharing options...
finlo Posted January 12, 2020 Share Posted January 12, 2020 You spin me right round baby right round like a record baby..... Link to comment Share on other sites More sharing options...
Neil Down Posted January 12, 2020 Share Posted January 12, 2020 You can smell the bullshit... Link to comment Share on other sites More sharing options...
Non-Believer Posted January 12, 2020 Share Posted January 12, 2020 I wonder why they don't just publish the data when it's complete, updated and ready to be published then? Rather than producing "estimates" which could be -25% accurate, then saying that they'll be updated later? This Govt relies on rather a lot of "estimates". Many of which prove to be wide of the mark by considerable margin. Still waiting for 2019 FOM/MGP visitor figures too.... up to 4 months on...or are we waiting for further information that might boost them +25% too...? Link to comment Share on other sites More sharing options...
Neil Down Posted January 12, 2020 Share Posted January 12, 2020 Just now, Non-Believer said: I wonder why they don't just publish the data when it's complete, updated and ready to be published then? Rather than producing "estimates" which could be -25% accurate, then saying that they'll be updated later? This Govt relies on rather a lot of "estimates". Many of which prove to be wide of the mark by considerable margin. Still waiting for 2019 FOM/MGP visitor figures too.... up to 4 months on... Because that would more or less show how inaccurate they are... Link to comment Share on other sites More sharing options...
Chris Thomas Posted January 12, 2020 Share Posted January 12, 2020 11 minutes ago, Non-Believer said: I wonder why they don't just publish the data when it's complete, updated and ready to be published then? Rather than producing "estimates" which could be -25% accurate, then saying that they'll be updated later? This Govt relies on rather a lot of "estimates". Many of which prove to be wide of the mark by considerable margin. In fact data about all registered transactions is published as open data https://www.gov.im/about-the-government/government/open-data/economy/land-transactions/, with the dataset updated monthly. Housing transaction data could be published with a 12 month delay. Would that be better and if so, why? Which other estimates proved to be wide of the mark by a considerable margin as housing isn’t wide of the mark as there is little control on registering transfers? Link to comment Share on other sites More sharing options...
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