Not enough houses on Manx market to meet demand, says estate agent

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There are not enough two to three bedroomed homes coming on to the market to meet demand.

That’s according to Cowley Groves Holdings Ltd chairman David Creane, who described the year as having got off to ‘a very good start’.

He explained: ‘The problem we are facing in catering for this large number is stock.

‘We do not have enough two/three bedroomed units in the preferred areas in prices ranging from £170,000 to £250,000.

‘We have sold a significant number of houses in this sector but require more.’

He said housing stock was generally made available in the first part of the year.

Meanwhile, he said that demand was also out-stripping supply in the rental market.

The main need is for furnished and unfurnished family homes near to schools, two and three bedroomed units with monthly rental values from £850 to £1,000.

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