J-cats ‘are having little effect on house prices’

Friday 18th July 2008, 2:56PM BST.

ESSENTIALLY employed J-category Islanders are having a negligible effect on property prices, the Housing Minister has insisted.

Senator Terry Le Main (pictured) said that he did not believe that the skilled immigrants were responsible for the recent surge in house prices that has left many on middle and lower incomes unable to buy.

In the States he was asked by Deputy Sean Power how many J-cats had exercised their right to buy since 2005, when the rules were changed to make it easier for them to get on the housing ladder. The minister revealed that 84 of the 1,700 homes sold in 2005 were to J-cats, compared with 149 out of 2,000 in 2006 and 138 out of 1,900 in 2007.

Senator Le Main said that the average price of homes bought by J-cats was around £700,000, so it was unlikely that those looking to buy in the lower reaches of the market would be significantly affected.

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bob

July 18, 2008 at 4:55 pm

‘J’ cats are the very reason house prices have risen. I personally have spoken to at least five separate home owners who have recently moved here from the UK as ‘J’ cats.

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