First-time buyer properties lacking in the IoM

Estate agent comments on current market

There's a real dearth of first-time buyer properties in the Isle of Man at the moment, and any which do become available are being snapped up quickly.

That's according to Tim Groves of Black Grace Cowley, who handles residential sales at the estate agent.

He says similar could be said for other categories, too:

Meanwhile, student debt and the average house price are some of the reasons young people struggle to get on the property ladder.

That's according to A Level students at Ballakermeen High School.

The students receive life skills lessons, with outside organisations coming in to teach youngsters about budgeting and finance.

These sixth-formers told Manx Radio what they've learnt about applying for mortgages:

Junior Achievement provides the life skills lessons at the Douglas secondary school, and headteacher Adrienne Burnett says bringing in outsiders can be very beneficial: