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James – 15th May 2021
Scrutiny Matters Feedback - Housing
The States of Jersey needs to get a grip on the rampant Buy to Let market. This has created Flat price inflation never seen before in Jersey and unaffordability for a lot of people.
So the least the States can do doing forward, is make new builds only available to first time owner occupying buyers.
New Flat builds should also be audited to ensure the asking prices are justified. Why are new 1 bedroom Flats being valued at over £300,000? Is that based solely on their potential rental income and do they actually cost so much to build? I do not believe it does.
I know a lot of young People who see no future in Jersey, and when they see UK 3 bedroom Houses at a 3rd of the Price of a 1 Bedroom Jersey Flat, they will simply leave. It's a no brainer.