GD4ELI Posted November 3, 2022 Share Posted November 3, 2022 3 hours ago, SE123 said: Very late to this so you guys probably now know what happened - i put a £1000 reservation fee down in March 2021 and then pushed Dandara hard to exchange and get the sale locked in (this happened within the month) 10% paid and i could sit back. Dandara then started refunding the reservation fees (no contractual obligations on them) ; I was told by the Dandara recommended lawyer (who handled the purchase for me) that the reason was because raw materials / labour etc., had shot up in price and they were in danger of making a loss on each house sold...the writing was on the wall hence me pushing to exchange asap. Glad i did I'd check the build as it progresses, take plenty of photos. I've seen shocking things on some non-Dandara sites. Well done though, smart move. As you say, prices for materials and labour have rocketed, so much so that some local to me have gone way over budget renovating their houses. Quote Link to comment Share on other sites More sharing options...
asitis Posted November 4, 2022 Share Posted November 4, 2022 Doesn't seem to be much progress on the Cregeen bypass . It does however look fine access to all the fields below the existing site ! any bets ? Quote Link to comment Share on other sites More sharing options...
2112 Posted November 4, 2022 Share Posted November 4, 2022 1 minute ago, asitis said: Doesn't seem to be much progress on the Cregeen bypass . It does however look fine access to all the fields below the existing site ! any bets ? Aren’t they building more houses? 1 Quote Link to comment Share on other sites More sharing options...
asitis Posted November 4, 2022 Share Posted November 4, 2022 10 minutes ago, 2112 said: Aren’t they building more houses? I believe so, not a bad result, considering the original agreement was to build a few houses, then build the bypass before carrying on ! They do whatever they like, whilst the rest of us fight planning tooth and nail over minor stuff ! 3 Quote Link to comment Share on other sites More sharing options...
TheTeapot Posted November 4, 2022 Share Posted November 4, 2022 1 minute ago, asitis said: I believe so, not a bad result, considering the original agreement was to build a few houses, then build the bypass before carrying on ! They do whatever they like, whilst the rest of us fight planning tooth and nail over minor stuff ! I think the original plan was for approx 450 houses in total, split into 3 'phases', with the 3rd phase only allowed to be built after the bypass was complete. Planning being what it is this could have changed since then. 1 Quote Link to comment Share on other sites More sharing options...
2112 Posted November 4, 2022 Share Posted November 4, 2022 I think a lot of people are upset, that there is little in the form of first time buyers/affordable housing. There are a lot of people and critics who are incensed that speculators and investors have purchased houses, have immediately let these properties at high rental rates. It’s not illegal, unless it’s legislated against. Quote Link to comment Share on other sites More sharing options...
TheTeapot Posted November 4, 2022 Share Posted November 4, 2022 10 minutes ago, 2112 said: I think a lot of people are upset, that there is little in the form of first time buyers/affordable housing. There are a lot of people and critics who are incensed that speculators and investors have purchased houses, have immediately let these properties at high rental rates. It’s not illegal, unless it’s legislated against. A while back, when they first released the Watterson Road section, 6 houses in a row went up on Black Grace Cowley for rent at £1500/m. Same photos, advert, details for each. According to Dandara's own plan these houses were sold. I do know a couple of people who have bought houses on that development, and they are actually living in them, but a lot have gone to investors. Like this https://www.blackgracecowley.com/property/9-watterson-road-ballasalla/ or this https://www.blackgracecowley.com/property/4-watterson-road-ballasalla/ 1 Quote Link to comment Share on other sites More sharing options...
offshoremanxman Posted November 4, 2022 Share Posted November 4, 2022 18 minutes ago, 2112 said: I think a lot of people are upset, that there is little in the form of first time buyers/affordable housing. There are a lot of people and critics who are incensed that speculators and investors have purchased houses, have immediately let these properties at high rental rates. It’s not illegal, unless it’s legislated against. It’s probably a lucky escape. That whole estate is hideous. 2 1 Quote Link to comment Share on other sites More sharing options...
2112 Posted November 4, 2022 Share Posted November 4, 2022 4 minutes ago, TheTeapot said: A while back, when they first released the Watterson Road section, 6 houses in a row went up on Black Grace Cowley for rent at £1500/m. Same photos, advert, details for each. According to Dandara's own plan these houses were sold. I do know a couple of people who have bought houses on that development, and they are actually living in them, but a lot have gone to investors. Like this https://www.blackgracecowley.com/property/9-watterson-road-ballasalla/ or this https://www.blackgracecowley.com/property/4-watterson-road-ballasalla/ As the old adage goes, be careful for what you wish for, it may come true. If there were a development solely of FTB/Affordable Housing, I’m sure ‘investors’ ‘estate agents’ and others would find loopholes to get around any possible restrictions. It’s upto planning and politicos to legislate. Until that happens there will be more cases of new housing being bought specifically for investment. The UK charges additional stamp duty charges for buyers who buying additional property which aren’t their primary residence. Maybe this could be introduced here, it may bring additional revenue, which could be ploughed back into new housing schemes. Those spending large sums of money could afford the additional tax. Quote Link to comment Share on other sites More sharing options...
asitis Posted November 4, 2022 Share Posted November 4, 2022 Developers pay lip service only to first time buyers, it's a way of looking as though you are complying with what the island needs, to get your development approved, oh and of course an unneeded bypass championed by a tame and dim MHK. Dandara have got government over a barrel with the amount of supposed employment they create, I don't see them clamouring to build on brownfield sites to create affordable housing. At the risk of repeating myself, with what the banks now demand, and interest rates rising, a quarter million is not a first time buyers house, unless the bank of mum and dad can help ! 2 Quote Link to comment Share on other sites More sharing options...
Ringy Rose Posted November 4, 2022 Share Posted November 4, 2022 The problem is the investors, and I think we should take away out of the UK's book and make being a landlord a more challenging process. The Telegraph is full of landlords moaning that they're selling up, mostly those who are mortgaged up to the tits. Trouble is, you'd still always need a rental market that isn't social rented, so you don't want to kill it entirely. People "upgrading" to a Dandara house and living in it aren't a problem, as the house they're selling also comes on to the market. Quote Link to comment Share on other sites More sharing options...
asitis Posted November 4, 2022 Share Posted November 4, 2022 (edited) 3 hours ago, Ringy Rose said: People "upgrading" to a Dandara house ... From a tent ! Edited November 4, 2022 by asitis 1 Quote Link to comment Share on other sites More sharing options...
Gizo Posted November 4, 2022 Share Posted November 4, 2022 These ‘investors’ who happen to buy these houses up doesn’t happen to be Dandara by any chance?🤔 1 Quote Link to comment Share on other sites More sharing options...
Ringy Rose Posted November 4, 2022 Share Posted November 4, 2022 3 hours ago, asitis said: ... From a tent ! I said upgrading, not downgrading 2 Quote Link to comment Share on other sites More sharing options...
Kopek Posted November 4, 2022 Share Posted November 4, 2022 I would love there to be curtailing of Buy to Let thru taxes and penalties, truth is, most property moguls and developers could absorb these costs with increased rents!!! CGT and Stamp Duty are an anathema to our Govt so they are not going to happen, the only action could be against the BtL owner and that might seem to be undemocratic??? Also, if developers were restricted in whom they can sell to, that may mean a reduction in building and higher prices??? Quote Link to comment Share on other sites More sharing options...
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