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The Isle of Man JCC are proud to present the 2011 Property Outlook with guest Speakers Neil Taggart MRICS and David Watson MRICS, both Directors of Chrystals Estate Agents the longest established Agents on the Island. They are both are qualified Chartered Surveyors and have many years combined experience dealing with Residential and Commercial markets respectively. The presentation will report upon trends during 2010 and outlooks for the year ahead. Whilst focusing primarily on the Isle of Man there will be some discussion on the UK and further afield and how wider markets may affect the Island.
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ISLE OF MAN JUNIOR CHAMBER OF COMMERCE
Annual Property Outlook 2011
Neil Taggart MRICS DIRECTOR David Watson MRICS DIRECTOR
INTRODUCTION
• Chrystals – Since 1854
• Neil Taggart (Residential and Rural)
• David Watson (Commercial)
AVERAGE PROPERTY PRICE STATISTICS
• CHRYSTALS (DEC 2010) - £272,500
• IOM GOVERNMENT (DEC 2010) - £271,000
• HALIFAX UK DATA (DEC 2010) - £162,435
CHRYSTALS AVERAGE HOUSE PRICES 2001 - 2010
IOM LAND REGISTRY SALES BY PRICE SECTOR 2010
BUYING or SELLING?
• HOMES
• INVESTMENTS – CAPITAL GROWTH / YIELD
• DEVELOPMENT
OFFSHORE OFFICE TAKE UP
TOP OFFICE RENTS 2010OFFSHORE COMPARISONS
ESTIMATED MANX OFFICE TAKE UP 2010
NEW DEVELOPMENTS - 2011
ST GEORGES STREET
12,000 sq FT
HOWSTRAKE
DEVELOPMENTSSOUTH QUAY
10,000 sq FT
QUAY PROPERTIES
AVAILABLE PRE-LET
ST GEORGES STREET
18,000 sq FT
HARTFORD HOMES
FINCH ROAD
38,000 sq FT
LICHFIELD PROPERTIES LTD
k
AVAILABLE PRE-LET
FINCH ROAD
36,000 sq FT
DANDARA DEVELOPMENTS
COMPARATIVE VALUE TABLEOFFICES – PURPOSE BUILT INVESTMENT VS OWNER OCCUPIER
£18.50 PSF7%
£375 PSF
£300 PSF£320 PSF
AVAILABLE OFFICE SPACE COMPARISON START 2010 vs 2011
QUESTIONS AND ANSWERS
