The number of people looking to buy a house on the Isle of Wight has fallen by 32.7% in the last year, research has revealed.
According to data collated by GetAgent.co.uk, the demand for property on the Island has dropped by almost 1/3 from the demand seen in 2021.
That figure sees the Island ranked at the top of the list alongside counties such as Lincolnshire (-30.3%), East Riding of Yorkshire (-30.3%) and Northamptonshire (-30.2%).
As for the latest quarterly figures, demand on the Island has fallen by 8.4%.
Fluctuating house prices are likely to be a reason for the drop in demand whilst the economic landscape of the country during and since the COVID-19 pandemic is likely to be another.
Co-founder and CEO of GetAgent.co.uk, Colby Short, commented:
“Given the pace that the market has been moving at since the pandemic, it was inevitable that a reduction in buyer market activity would materialise at some point. However, it’s fair to say that this reduction was brought about more abruptly than anticipated following last September’s mini budget.
“The good news is that the overall health of the market remains robust and we’re still seeing around half of all homes listed being snapped up by buyers across the vast majority of counties.
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should reject pennyfeathers then, clearly the houses are not ‘much needed’ after all, makes you think why the council really wants new houses to be built…
Your right. But plenty of council tax to come.
guess the council want more foreigners and mainlanders over here… but so pointless with the very expensive ferries…. I cannot wait to move off this island… it will save me over £200 week in ferry fares !!
Byee you couldn’t pay me to live on the mainland it’s just too busy and dirty
Please do.
Don’t let the (ferry) door hit you on the way out.
Renovate only those houses that are empty and in need of repair before building new ones that will stand empty waiting for a nonexistent buyer. If new ones are built and stand empty charge the builder Council Tax until they are sold!
Are we living in Soviet Russia? I must have missed that.
Why the hell are we building more and more houses if demand has dropped 32.7%year-on-year?
Perhaps one of our local newspapers could ask this question of the Council?
The demand for housing hasn’t dropped, just the demand for house buying.
Interesting point Query. And that the other places with similar downturn in demand are all ‘farflung’ – like the Island. The thought is that in the midst of COVID and lockdown, people working at home saw the advantage of moving somewhere of low population and relative property pricing and pleasant scenic surroundings. So you could move from your two bed flat in London to a luxurious place on the Island and not have to commute. That’s one theory, anyway.
nothing to do with the price of moving relocating to one of the only counties surrounded by water
Unknown why anyone on basic wage would be able to afford a new house… plus pay for the ferries… !! Imagine just from Ryde, 1,000 new homes, many occupants would be coming from mainland, so how much will the council earn just from all those ferry fares… ?? That would be an easy earn of over £100, 000 for the ferries…just for moving here… !! Then a continual drip feed to ferries for them to travel, like the rest of us back and forth…
Council does not run the ferries.
Council could not run a Bath
People have probably seen what a state the Island is.
Sandown is in a right old state.
Pavement Parking is rife on the Island.
Take Great Preston Road for example
There is always a yellow Vauxhall Corsa parked on the pavement
outside No.90 causing mayhem to us motorists driving to work.
Getting to work in Nicholson Road takes longer due to morons
Parking on the pavement along Great Preston Road.
Why have the Council not placed DOUBLE YELLOW LINES along
such a busy Road.
The Island is in decline.
I have heard that Island Roads are on the case with laying
Double Yellow lines along Great Preston Road.
Either Island Roads don’t know where Great Preston Road is
or they don’t know how to undo a tin of yellow paint.
Come on Island Roads get those yellow lines placed then
Police or Enforcement Offices can slap a ticket on the culprits who
Park on the pavement along Great Preston Road.
Jason the Island is totally lawless all traffic Wardens / enforcement officers are
bothered about is fining holidaymakers who may have gone over their time paid.
Parking on the Island is a huge problem.
Vehicles park on double yellow lines outside Sandown Pier and get away with it.
Vehicles park on pavements along Regent Street Shanklin and Great Preston Road Ryde
to name a few.
NO RULES ON THIS SHODDY RUN ISLAND
Jason, omg is this really how you feel? this is all minor stuff, you are actually so worried about this? sorry but getting a life should be a bigger priority, I mean really come on have a word with yourself, so much more going on than this to be bothered about if you really feel the need….sorry but need to relax yourself a bit and live and let live maybe, shock horror a yellow Corsa, where will it all end eh….
Drive along Great Preston Road and you will see what a pain in the a*se
it is driving along this Road due to an idiot parking on the pavement.
When I drive I hate having to come to a complete stop due to
Idiots who park on pavements.
These type of people have no care for other people.
My guess is the person who parks on the pavement lacks an education
Drive along Great Preston Road and you will see what a pain in the a*se
it is driving along this Road due to an idiot parking on the pavement.
When I drive I hate having to come to a complete stop due to
Idiots who park on pavements.
These type of people have no care for other people.
My guess is the person who parks on the pavement lacks an education.
It’s not lack of education its because they really don’t care.
It’s the residents at no.90 Great Preston Road
They park 24/7 on the pavement causing an obstruction to other motorists and pedestrians.
IW Council should Tow vehickes away that park on pavements.
It appears that IW Council are Useless.
I have spoken to friends and they said that the residents at
No.90 Great Preston Road son in Law works for Island Roads.
Maybe that’s an Island Roads perk
YOU CAN PARK ON PAVEMENTS IF AN EMPLOYEE
All the more reason to STOP the proposed desecration of the countryside that is the proposed Pennyfeathers vandalism!
The reason it seems we keep building is because we keep giving them away to single parents, immigrants or anyone who knows a councilor!
A overworked hospital, no dentist and 3rd worst schooling in the country!
Councilors should be so proud especially Mr. Jordan who seems intent on using every bit of green space we have here. I bet you can guess he was not born here!
Property prices are the thing that is killing society but it is touted that it is good for the economy, but it is a false economy built by the top few.
We could do with better pay on the island so islanders can actually afford to buy a house.
Where are all the well-paid jobs to
If you are from the mainland and are retired then you can afford them.
My council tax on a 1 bed flat is £1700 a year so how can people afford to buy a house and pay all the bills on island wages.
The maths just doesn’t add up.