£450,000 tag ‘underlines homes crisis’

Wednesday 26th September 2007, 12:00AM BST.

A £450,000 price tag on a first-time buyers’ house has underlined the need to build more homes, according to Housing Minister Terry Le Main.

The St Ouen property currently for sale is not even believed to be the most expensive in the first-time buyers’ market. Others have changed hands for £480,000. Senator Le Main said that it was no wonder that local families were fleeing the Island or that university students were not returning home. He added that he was not surprised at the price tag on the St Ouen property advertised by agents Beck & Deane. ‘It is an indication of a huge shortage of properties in the first-time buyer market,’ he said. ‘We have been in a real stop-start situation where we have been unable to get sites passed for desperately needed homes.’

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