Market's buoyancy fuelled by stock shortage
Property prices on the Isle of Man are continuing to rise but the rate of increase is slowing.
That's the view of local estate agent Orry Creane – the sales and marketing director at Cowley Groves.
His comments come in the wake of a Halifax price survey in the UK which shows average prices rose 1.8 per cent in June and more than 13 per cent year on year.
Mr Creane says whilst the Manx property market remains buoyant – fuelled by a shortage of stock - this is causing some buyers difficulty.
And he told Manx Radio he’s not convinced government’s updates to the first time buyers’ scheme will improve the situation:
Michelle Mone-linked PPE firm liquidated and unlikely to repay £148m
Proposed new laws would support homeless people on the Isle of Man
DESC chief officer to retire in 2026
Treasury minister responds to figures highlighting contracting economy
