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Dave Mauger – 14th May 2021
Firstly we need to know what is affordable Housing because nobody in the States seems to know. Like is it a maximum of 5 x Average Salary? if so, a 1 bedroom Flat is no longer affordable to buy for Teachers and Nurses on around £45K a year.
Then we need to know why the States has 22 Landlords within it, whether this is a conflict of interest whenever Housing matters arise? We also need to know whether vested interest is the reason the situation has been allowed to get so bad over the years. Because there are only a few States Members who are not Landlords who seem to care.
Then when Deputy Higgin's Property Register is finally compiled we need to know how many people in Jersey own second homes for Buy to Let? As this has caused rapid property cost inflation with associated rents over the past 18 months.
Is it time for the purchasing of Second Homes as investments to be limited or stopped altogether? 2/3rds owned as Buy to Lets at Castle Quay is a disgrace. Some rents being asked for are even higher than their relative Mortgages.
Also High Net worth migrants, how many Buy to Lets do they own, apparently legislation changed in recent years to let them get onto this money train?
As for building new places, look at cheaper pre-fab home building, only available for owner- occupancy. Why can't we build at similar prices to the UK? Why are the costs of building so much higher here, do we need to bring outside contractors in to make it cheaper?
Over all Buy to Lets and the Estate Agents promotion of them has pushed basic Flat prices up to unaffordable levels for average earners. This practice needs to be stopped or at the very least limited with a view that we are only a 45 Square mile Island and people locally born are already leaving.
5 years ago the average earner could afford a 1 or 2 bedroom Flat but since Buy to Letters have plundered the local market they have destroyed it for a lot of people. An average earner only has 2 choices, rent or leave. That's how bad it is because raising a family here unless you are in Social Housing or have a wealthy Family is practically impossible.