Acute shortage of homes leading to price rises
An estate agent says the property market is 'manic and frustrating' for buyers.
Graham Wilson from ManxMove claims acute property shortages are fuelling significant price rises.
He says most transactions involve local people, but off-Island enquiries have risen ten-fold.
Meanwhile cases of 'gazumping', where buyers make offers above the asking price or an already accepted offer to secure a purchase, are also increasing:
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Steam Packet says the situation is hugely disappointing