Housing quallies reduced further?
Saturday 6th December 2008, 10:00AM GMT.
JERSEY’S property market has stalled and an emergency measure will be taken to reduce housing qualifications by two years.
Housing Minister Terry Le Main has confirmed to the JEP that he intends to ask the States to bring down the wait for housing qualifications from 12 to ten years after Christmas.
Earlier this year the scheduled one-year drop in the waiting period for housing qualifications was frozen because of fears that the property market could not cope with an extra 300-400 buyers.
But Senator Le Main revealed that the time is now right to reduce the qualifying period because the housing market had virtually come to a halt. ‘The housing market has stalled at the moment because the lenders and banks are not lending like they were in the past with the 100% mortgages. They are not lending so willingly and freely,’ he said.
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If the housing market has stalled, what is wrong with greedy investors realising they have got it wrong and selling off their portfolio for a smaller return on their investment? True first time buyers could finally get on the housing ladder, this would create more lending which is needed to stimulate the economy and with interest rates so low, this is the time to buy.
Greed has been good for some, but for many others it has pushed local families out of the market for years. If nothing else that is good comes out of this recession, let it be that this was when reality and sense returned to the island.
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There is also the basic economic fact that people won’t buy if the prices are too high – not to mention the fact that the period before Christmas is always the worst time of year to sell a house.
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So the recession bites. I doubt this will have little or no effect on helping the situation. With most Lenders being ‘twitchy’ over new customers, the dropping Base Rate vs high inflation, coupled with the very real possibility that house prices may actually drop, it will take a bit more than a Qualies cut to revive the market. Least we also forget the huge deposits required for a half decent property. Who knows where it will end!
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so people who may have lived in the island years canot afford to buy a house so sell them to those who have not been resident for so long. how does that help local people?
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This has got to be a joke surely? The Island is actually in the position where house prices could go down and they know this and it scares them. For the future generations the States needs to forget greed and start looking after its people.
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Well is that such a great big shock to anyone? The housing market has not stalled because the market has run out of people who are quallified to buy – it has stalled because the purchase price has gone unbelieveably ridiculously high. People are swaying towards loosing money on rent, and purchasing abroad in an effort to make any profit from their new properties. The estate agents have been involved in pushing up house prices way beyond reality, and sellers have obviously gone along with the valuation as they were making a tidy(massive in some cases) profit- and who would balme them? Put it this way as a married couple on what we would call a decent income(80k+), we cannot afford a first time buyer 3k plus mortgage for a “normal” 3 bedroom house, thats without bills, expenses or even a slice of bread on the table. Then what if we got greedy and wanted a child – god forbid, then we would have £1000 a month as child care fees , not to mention the extra expense of a child / very possible drop in income -on top of the 3k mortagage…….need I go on…..you do the math, it does not make for happy reading. More and more people I talk to are willing to loose money on rent, save what they can and also purchase abroad in fast moving markets. There is only so much that people can afford or are willing to pay for a property and Jersey has gone far and above that- that is a major factor as to why the market has stalled.
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Ah right, so instead of letting market forces counter the inequality between rich and poor, you will just let more rich people buy property.
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house sales may of come to halt due to being over inflated, when youlook at the price of a house dropping like a stone else where in the world.
if its affordable it will sell.
hopfully a new states loan scheme will emerge in 2009 complete with a modern day interest rate
to help the ordinary working family buy a home.
on another note, the states housing refurb plan is going well and will , without a doubt raise rthe standard of tennents living.
well done
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Housing qualifications don’t work! Don’t believe me? Just look at the immigrant population that have arrived since the introduction of ‘housing qualifications’ in 1948. More than half the population are of non Norman stock!
It is to be hoped that Senator Le Main recognises that he is presiding over a failed policy. Just today I was discussing the migration of Poles to Jersey with a newly arrived Pole. Yes accommodation is a headache, but the Poles still come.
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god forbid that house prices could fall and that we had affordable housing in jersey! sorry but who is Senator Le Main actually representing? the jersey population at large or existing home owners? (who already have a house terry!!)
you get the housing market moving by making homes affordable not by introducing ways to create additional demand.
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This is a desperate last throw of the dice from the Housing Minister.
The real problems in the Jersey housing market at the moment are that;
1) Banks are demanding large deposits so that they have some kind of security if they have problems with the loan. 100% mortgages will not be available again for several years to come.
2) They are lending at a lot less than the 5x multiples that were common up to last year. Not only that but they are looking a lot harder at salaries, counting in a regular hefty Christmas bonus is no longer the rule.
3) They are looking hard at a client’s likely future job prospects. The old Jersey asssumption that you could walk out of a job on a Friday and walk into another on the Monday no longer holds true.
4) Prospective buyers are reluctant to saddle themselves with huge debts when the outlook for the world economy is looking so poor. Anyone who has a substantial sum of money is squirrelling it away until the sun comes out again.
Terry le Main’s move to reduce housing qualifications by two years will do nothing to resolve any of the above.
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This is unbelievable discrimination against Islanders who have had to wait in some cases 20 years for their qualifications whilst paying “locals” grossly extortionate rent. It is evident that the policy is really designed to milk the ” non qualies ” whenever possible and when help is needed to maintain the inflated property market lets change the rules to try and protect the locals pockets, again.
There are only so many houses on the Island so abolish this discriminatory practice altogether now is the best and certainly the only honest option and now is the time to take the decision.
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Well done Terry I feel you would have the balance nearly right and shows Jersey much more progressive than Guernsey.
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Terry, the reason why the housing market has come to a halt is that the properties are being over valued and are too expensive, dropping, the 12 year limit to ten will only allow property speculators to have more potential first time buyers to be ripped off, leave well alone, not until property developers drop prices, and a few so called honest estate agents who have vastly exagerated the value of some properties just to make their 1% go bust will the housing market begin to pick up. Yes the economy needs to be stimulated keeping the 12 year rule will in the long term keep prices lower, i will admit that for those people who have contributed to the island and have to wait 12 years to qualify is very difficult for them but Knee jerk reactions to what Terry is proposing is incorrect, i had to wait 20 yrs. Terry should keep on track with more social housing to which he has achived excellent results with the new builds being carried out. Let supply strip demand, price will drop and perhaps our young Jersey born islanders will possibly be able to start on the housing ladder.
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Houses are far too expensive. Prices must be allowed to fall to enable ordinary young Jersey residents to even aspire to buy a house. Mr Le Main is out of touch with local people.
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The driver for reducing housing qualifications should be human rights issues not to increase demand and keep house prices high and unaffordabale for first time buyers.
100% mortgages and irresponsibly lending more than what people can realistically afford to repay is what caused the Credit Crunch. So critising the banks for returning to more prudent and realistic lending policies does not make sense. We expect better from our politicians and our media.
Mr Le Main appears to have nailed his colours clearly to the mast. If the new states assembly keep him in post then they are fully aligned with his views.
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We have qualifications (J), a job as a senior profession and two kids. Buying property? Just totally and utterly impossible. Sadly, there is NO politician in Jersey who represents hard-working people and families.
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Just who is Terry le Main out to serve?
The interests of islanders who need a home to live in?
Or the interests of developers, estate agents and lawyers who profit from the housing merry go round?
I think we should be told!
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It has been the ‘J’ Cats and investors that have kept the housing market going. But as jobs start slowing and investors hold back on thier cash the housing market is slowing.
To drop the qualies to 10 yrs will have little effect.
Approx 300-400 buyers? Not really.
How many of these can really afford housing?
How many of these will require States provided housing?
When it comes to it it will only have a slight effect.
The States will just keep employing ‘J’ cats instead of local people to keep the market going.
Thanks Ministers
Merry Christmas and a miserable New year!
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I would just like to comment that not all Jersey homeowners are the rich or greedy investors. I saved for my home on a low salary putting in 60 hr weeks for twenty yrs…as a single person.
I went without all the things that people in Jersey seem to feel they must have in order to afford my house, which I bought four years ago at the age of 44.
It can be done. You just need to get your priorities right.
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I work in the building industry and I get fed up with people claiming developers are greedy. By far the highest cost is the land value, and I can assure you I know of no-one who ownes land dropping their price to make housing more affordable.
If a land owner does not get his price (whether their valuation is realistic or not), he waits until someone, somewhere does eventually pay his price.
As such what will really happen in Jersey is that in the next few years fewer houses will be built and when we eventually come out of this recession, the whole price spiral will start all over again – it’s basic supply and demand!
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As someone who has been in Jersey for 10 years and would potential get quallies soon – I actually think I would rather wait!! I could only afford to buy if the market continues to dip a little and become more affordable … if quallies came in – it actually means I still can’t buy – so it’s a no win situation either way!! AND it’s annoying to think that all of a sudden they need us!!!
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So who is going to benefit from this the people or the states…some of the quals property is a joke no heating installed bills are crazy GST on top of everything else….seriously who is winning…..
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How many non-qualified people, who are usually already paying extra-high rents, will have even the deposit squirrelled away to pay for a home in Jersey? Certainly not 300 to 400 I’ll wager.
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I guess that the 300-400 people that will get their quals will not be able to afford to buy and that this will just end up making the rental market more competitive resulting in higher rents than the ones that currently exist. I could afford a property, prob a 1 bed flat but can’t afford to save the deposit.It’s always a catch 22 The states have spent years adjusting the period of time one has to wait to get their quals and it’s so discriminating. I love this Island but the politics stink!!
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Housing quals are just an excuse to charge more rent and give less accommodation. Jersey is a nice but greedy place. They want you to pay the Taxes like the locals but yet the non quallies people seem to have less rights. Yet the Jersey preople think no more of moving to the UK and buying a house if they feel like and no restrictions to what they can buy. It is all very one way and only in favour of the Jersey people
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Myself, and wife waited 20 years to earn our “qualies”. We paid inflated rents, on grotty accommodation. We have paid our taxes, and social security responsibly, and have never been a burden on the state. We worked hard, and considered ourselves lucky to live here.
And now we find all we had to do was wait for a recession to happen before the states viewed us a an asset.
Why are estate agents considered more important than responsible tax paying working class people? is it because they wear an old school tie?
I’m no economist, but don’t first time buyers need to feel secure in their jobs before they buy a home/ Aren’t first time buyers the trigger for the rest of the housing market?
My opinion, take some money out of the benefits system, and give working people breaks to buy houses, and give our pensioners more assistance.
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This is the daftest thing I’ve heard in ages – does Terry realise that there’s a global recession going on? That’s why banks aren’t lending, not because there are too few people with ‘quallies’.
The Jersey economy has always been more buoyant than the UK but now is the time for property prices to settle. I’m Jersey born and bred but have left the island. Even if I wanted to return, there would be no way I could afford to buy a house.
Property prices ultimately find their own level – perhaps, at last, Jersey has found its own level?
Perhaps someone ought to mention to tell old Terry that there’s a ‘real world’ going on without him?
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Why just support the property market, it only benefits a few, why not open up the employment market and the business market, give more licences to new businesses, allow a new cheaper supermarket, allow more competition in Jersey markets and that will have a greater benefit for more of us.
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Wrong, Terry, wrong. Prices of propery is falling in most of the world, USA, Ireland, UK, Spain, etc. Property prices need to fall in Jersey.
By reducing the qualification periods all you will do is rack up yet more demand for States accommodation.
Jersey is going into recession, like the UK. I think people have started to leave already. We, the locals, have wanted the population to reduce to reasonable levels, we, the locals, do not want more and more hideous housing developments. Hopefully this is now starting to happen.
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Clearly the number one priority for this guy is to safeguard the position of the substantial buy-to-let investor base that has so distorted the Jersey property market.
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I can’t believe this – i waited 20 years to get my qualifications – i was schooled over here and had to slum it after i left school and now they’re giving them out to pretty much anyone…
if that’s the case I’d like to be reimbursed for the extra rent charges i had to pay for 10 years!
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There are plenty of people wanting to buy, the problem is that it is so much harder to get a mortgage. Dropping the house prices wouldn’t help as mortgage lenders still want large deposits.
The extra 300-400 buyers would have the same problems and will not create demand if they can’t get mortgage approvals, so the only option is to wait until banks want to lend again.
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Lets bring in some swinging taxes on second homes BFL etc.
Then maybe some affordable house prices might be realised.
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What is wrong with letting the market cool! It has to if the young Jersey-born talented people who are working on London and around the world, are to return to Jersey. These are the people that are gaining vast experience in finance etc and want to come back to help run Jersey better than it is at the moment, but can’t due to the crazy house prices.
Think about it Terry!!
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This man is a fool. Average prices of property is around £400k. House prices last year went up 25% in Jersey, this is clearly unsustainable and we are in a bubble that will burst. enabling 300 people to buy a property only defers todays problem to tomorrow. how short sighted can you be. we need a correction to stabilise the market. without it you artificially create a market through government intervention. in any event banks require 20% deposit now, so using the example above you would need £80k deposit, plus £10k for stamp, legal etc. this time last year it would have been £20k for a deposit. where do people suddenly find that extra deposit. that is the reason the property market has halted.
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Well this should sum it up:
My partner owns a 2 bedroom flat that was bought in March 2008. We now need to sell the flat as the situation has changed and we have a baby on the way. A local estate agent came round to value the flat which was bought for 225k. Guess the figure quoted ?? 280K. It is not only the States that are failing the public. It is the greedy estate agents driving the prices.
Also a quick note to Terry. The banks are not lending!! I should know I work for one. Do you really think that dropping the quals limit will open the door to 300 – 400 buyers. Don’t be daft!! These are people who have spent the last 10 years paying over inflated rental rates doing the jobs that most people will not do because they cannot afford to do them. The reason why? Because we are charged GST, we have to pay over a pound for a litre of milk, because a loaf of bread costs £1.56, because the rich get tax loopholes to keep them in the island which means the middle earners need to make up the shortfall…
Well I must ask, if Obama forces Jersey and the other offshore jurisdictions to stop trading, the finance industry in turn collapses, what then. Tourism???? Now remember what is there to attract them? Beautiful scenery, a casino to draw in the rich, a unique Jersey culture? Ha ha don’t make me laugh
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A 10-year residency rule is about right for Jersey. If someone wishes to buy a house and they have the means to do that then what’s the problem?
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Classic Jersey – when times are good, people without qualies can like it or lump it (“there’s a boat in the morning if you don’t like it” – ever heard that refrain?) whilst be taxed in full and denied the basic human right of being able to buy and occupy their own property for two decades.
Now the going is getting tough, hey presto, you can have qualies after 10 years !
Jersey remains very much for the Beans…
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Let the greedy lose out Terry. Shame on you! There should be a call to increase the period to 15 years to force prices down further. Before any of you ask, yes, I have my own house, but its about time Jersey stopped being driven by greed and property developers. States members support the public for a change,
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I hope this is voted down. We don’t need a reduction in quals just to carry on propping up already over inflated prices.
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Personally I think 10yrs of living in damp, over priced hovels is quite enough time for a person to be ‘honoured’ with housing quals. Maybe after all this time i will be able to have a decent place to live.
Many landlords are aloud to take the mick out of non qualified tenants. The states have let them get away with low standards and over priced rent for too long. Some places i have seen i wouldnt even let a dog live in.
The standard for non qualified accommodation should be next on the states list.
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I don’t understand what all the fuss is about. People cannot afford houses in Jersey unless they have a silver spoon background. Pretty simple really. Yea this does seem like an attempt to keep prices over inflated. This has always been a problem in Jersey, tax free profits as quickly as possible.
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What is wrong with protecting the housing market? there are a lot of people who have worked hard to be able to afford their own home so why would we want to see the value of their home drop!
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Nothing like a credit crunch for people to get their teeth into the real issues and shout out publicly the way it really is here in Jersey for non quals.
And just how much does it cost these days to get on that boat in the morning, with car, kids and belongings?
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The only non-qualified people who are likely to be able to afford to buy are those in high paying jobs within finance and as I know quite a few have questioned them recently – the response was…. We would not buy right now anyway with the current climate, if finance goes from Jersey – so will we.
A large number (not all) of these people do not give a damn about Jersey as a place but to get what they can, then leave.
Lowering housing quals time will not solve the housing market problem but will create more problems. Those who can afford to will buy, then rent out for extortionate amounts to the lower classes who will in turn end up in even worse situations.
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I think Jersey is due for a huge price crash. I would like to benefit from the crash. Is there any way to short Jersey house prices.
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Help the Jersey folk first, then deal with incomers (rich or otherwise). That should be the States main focus (and I speak as a non-Jersey person).
And lets kick the banks up the rear end too. It is incompetent bankers that have caused the world economy to collapse, so having behaved totally irresponsibly for years and having bullied people into taking out loans they could ill afford, all of a sudden they won’t give out money to anyone! Well make them… hit them where it hurts, and while we’re at it, fire the top layers of staff in every single bank and stop the ridiculous bonuses, anyone else with this level of incompetence would be fired from their job, why are bankers so protected?
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Any change in Jersey is met by moral panic, which is instilled in Islanders from a young age. Why not change the ‘qualies rules’, what is the worst thing that could happen? what is Jersey trying to protect? the Islanders? Lest not forget who the islanders are and where they have come from. Just imagine Hoards of people descending on Jersey to slowly buy up the houses, Jersey people will become extinct or forced to live in cardboard boxes begging for scraps of food outside the empty Woolworths building. Jersey people will be replaced by a new breed of invaders / incomers/foreigners. whatever! who are Jersey people anyway, arent they made up of people from all over the world who have settled here over hundreds of years. Isnt jersey made up of invaders/foreigners/incomers. Jersey needs people to move here otherwise the economy would die, and the people would eventually die out due to inbreeding. Jersey dont bite of the hand that feeds you. I say bring quallies down to one year, whats the worst that could happen? Progression!
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To all the non quals people on the island who think they have it hard, I remember when locals used to cash in by having non qualies people stay in garden sheds and out houses.
I agree with a comment made earlier about raising the waiting time to 15 years then maybe it will bring prices down, as there will not be the buyers out there. Then maybe I could afford to get my foot on the ladder, along with the hundreds of other young people who leave the island every year because they have no chance of affording the cost of housing
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@ BenValue: Let me know too if you find out : )
Price of average house in excess of twelve times average salary + a total dependence on the finance industry = massive bust in 2009.
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Bergerac,
There is a lot of hard working people who cannot afford a home. Working full time, with qualies. It makes me laugh that Housing Minister thinks people who will get their qualies as a Xmas present will keep up the inflated housing prices!
All we need this Xmas is good dose of reality check…
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Why do people continue to moan about Jersey. Isn’t it quite obvious that this is a small island with a limited amount of land? Perhaps the people who are always complaining should try and live on some other island and see if they like it?
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I wholeheartedly agree with Adele Fox and P.Lee. Read points 26 & 30. They talk sense. And Terry? Oh deary deary me what hope have we got with you….
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So if the prices on houses drop would the people who own houses be prepared to sell them?
Whatever happens someone will be unhappy with the outcome.
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I wonder if Telboy reads all the above comments. Don’t forget folks this is the Housing Minister, heaven help us.
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The important thing to remember about house prices or the value of any asset is that ‘Trees do not grow to the sky’.
The Jersey house market has reached the point where it is at a record multiple of the average income and it has slowed down to a tiny trickle of transactions.
The fact is that few properties are now being sold as owners are reluctant to cut their prices to sell and buyers are either cautious or unable to afford the asking price.
What happens next depends on the economy. Prolonged recesssion could see prices fall or remain steady, this depends on how many people are prepared to sit tight and for how long. Some people might be tempted to sell and get out with a capital gain or some people might have to sell due to personal circumstances.
Eventually we will see a return to economic growth and a good burst of wage inflation could solve the problem by making houses cheaper in real terms.
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Thanks Terry,
I love Jersey and would one day like to be able to buy and live in my own house within the island i was both born and raised. How will competing with more and more people possibly help this situation for myself and locals alike?
Interestingly enough; Without mentioning any multi-land owning States Members would this not benefit themselves financially by entitling others to purchase the land they are having trouble trying to sell during this recession?
Im not one for conspiracy theories but in Jersey all you need to do is look.
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It is all a complete con. Setting the qualies age at 12 or 10 or increasing it as some have suggested just ensures that Jersey has a massive rental sector and so is buy-to-let heaven. It is property investors and speculators knowing they can charge extortionate rents and with deep pockets that have pushed house prices to their current stratospheric levels. First time buyers can’t get a look in and prices would need to drop c 50% to change that. But to cover this inconvenient fact up we, the media and the states talk about J cats distorting the market and so set the people who are or want to be owner occupiers at each other rather than having them united in wanting the speculators out.
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Is Terry having a joke!
We have housing prices that people can’t afford, and at the first sign of the market slowing down, we are told there is a plan to reduce housing qualifications.
NO, NO, NO to any reduction whatsoever.
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I think the JEP has to pass on these comments to the States. I have never seen so many comments made, and all unhappy with the various situations.
1 Chief Minister.
2 Housing Qualies.
3 Mum pulling the strings.
The people writing in are only the tip of the iceberg, not everyone has access to the Internet. What is going on in this Island? I think it is the time for some serious answers.
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Qualies should be droppped, and should be even lower than 10 years ….Why the first step on the property ladder doesn’t necessarily have to be a house ….why not a flat! there are plenty of them. The propblem is that the states allow too many onshore investors to buy new share transfer properties taking the rental income and any capital gains (upon sale) out of the local economy and this is where it all starts, limiting the number of properties available to locals creating high property prices(& rents). Beans should be givrn more help, nut the current housing system makes no sense for those or non quals commited to the island, who can live locally pay taxes, buy share transfer flats but not live in the property they own. Why should they have to wait 10 years? Too many fat cats and not enough for good hard working honest people.
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Has the minister been drinking? The stalling of the market is not due to lack of demand, it’s because people can’t afford the silly prices and the banks are nervous about lending. All lowering the period will do is interfere with supply / demand and keep house prices up in the medium term, just when locals were hoping that at last prices may come down to affordable levels. Let’s hope the new housing minister is someone other than Senator Le Main.
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The last thing we need over here is to reinflate the housing market. A good 25% drop peak to trough is what’s required. And it would bring some sanity to what people borrow against salary if they think its not a certainty prices just go up.
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The way I see it is that the current system of “quallies” does not work. I’m into my sixth year here and am not at the point where I think I will hold on until I get them and then choose to move off the island – in the knowledge I can retain them for up to five years. If they don’t want people to stay then it’s those first two years are critical. What about getting shot of the current system and have non-locals pay a higher social security contribution. After five years, the individual is entitled to a rebate if they move off or their quallies ifd they stay. However, they must have worked for all of the previous five years.
I this case, the quallies should not be reduced – it will only keep prices high… that’s the reason for housing inactivity. Can a single people really afford a £190,000 one-bed flat? No, it’s unrealsitic. Supply has to outstrip demand and new homes need to be built in areas that need redevelopment.
Another option is to say that if homes are not sold with a specified time-frame (say, 3 years)they automatically become “open market”. And finally, what about capping property prices? Is this too draconian? Should a home’s sale price be set at a specified rate above its cost to build?
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I’m with you mistershifter. JEP should definitely send them on. The minister will then get the message and understand what the locals think.
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i have a copy of the economic survey of jersey
from about 1971 by mr. g.c.powell.
which
covers the way foreword if you like.
ive only skimmed thru this .
but did read the part on housing.
and decided that we have been off the rails for 30 years.
maybe there are more books like this in the library, so we can all go and read this and see the good roads that we have not been down.
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Terry should get people out of States funded housing first before opening the doors even wider. Also, how many people still live with their parents in Jersey? Surely he can see that the system needs to be tightened up not opened up for greed.
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Having read through the comments about the local Housing market, I felt it only fair that the view of a local property negotiator was also put forward. I would like to make clear not all agents are ‘out for a quick buck’ – there are those – such as myself – who wish to build their reputation on honesty, integrity and a willingness to assist people in what is generally regarded as their largest & most daunting financial commitment.
Furthermore, I felt it important to stress that properties in Jersey will only sell for what a purchaser is willing to pay – the property valuations will generally offer a ‘guide’.
Furthermore, in 99% of property transactions, a property surveyor will offer their professional opinion as to the current market value…Only then can the ‘true market value’ be ascertained. Please also bear in mind, many lenders RELY on the survey valuation when it comes to deciding what monies they are willing to lend.
And finally, I’d also like to point out that the recent property value surge is largely down to local market forces – supply & demand will ultimately dictate the price trend in the coming years…And I for one, would not be against a downward correction in local property values.
Let’s just hope the recent base rate reductions finally filter through to the person on the street…here’s hoping for a prosperous 2009!
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This does nothing for the people of Jersey. It’s all about keeping up profits for the construction companies and the establishment. Let’s face it – the politicians don’t give two hoots about locals.
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Excellent idea Terry. It deserves support. Ten years shows commitment to Jersey and should be rewarded with full qualifications.
Daffy
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Terry Le Main back as Housing minister hopefully he will follow through with the reduction
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DON’T LOWER THE TIME LIMIT! The ability for LOCAL people to be able to afford to buy a place to live is the most important factor here. The housing market’s prices have been getting ridiculous. Jersey was/is not catering for the local people. Now, hopefully, is the time for the market to become more reasonable with it’s prices.
matt
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It is really weird , there is not one comment on here from any estate agents i wonder why?
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The interest rates are dropping and this is the right time for people to buy! The governament needs to help the first time buyers and suppport the change to be qualified in 10 years.
10 years is a lifetime, and a commitment.
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