OAHN report is published today
New stats show government is unlikely to meet its target of increasing the Island's population to 100,000 by 2037.
The figures have been revealed in the Objective Assessment of Housing Need report, which has just been published.
It was a key goal for the chief minister when he released his Economic Strategy at the start of his administration.
The long-awaited OAHN report provides critical analysis of future housing requirements and will be used as an evidence base for the Island’s Strategic Plan.
Its baseline projection suggests around 9,600 more people will come here by 2041 - taking the total population to nearly 94,000.
However, it says a number of variants would help government come closer to their target, although there'd have to be improvements in retaining those who do move here and improving the housing offering.
Meanwhile, it's also assessed the type of housing the Island is likely to need in the future.
It says the proportion of private renters here has increased from 15 to 20 percent in the past two decades with a reduction in people living in the homes they own by four percent.
The most common type of property on the Isle of Man is the detached dwelling, however the largest growth is in purpose-built flats, which is said to likely be down to the increased demand for rented accommodation.
According to the 2021 census, 13.3 percent of all properties on the Isle of Man were vacant.
While the report does say there are several reasons for this, including second or holiday homes, it does note it's comparatively high compared to the England average of six percent.
The average house price is said to have remained steady at around £250,000 from 2010 to 2019, but then steadily climbed to £350,000 in December 2022 - the most recent figure available.
You can find the report in full here.
Fifth driest November on record
Section of Colby Glen closed following landslide
Demolition looms for former Salvation Army Citadel
Castletown man resentenced to probation
