Price hike to first time buyer homes 'regrettable' says DoI minister

DoI supported properties rise by £18K

The infrastructure minister has apologised to prospective first-time buyers who’ve seen the properties they want to purchase increase by £18,000.

However, Chris Thomas maintains government’s assistance scheme still ‘offers value’.

His department has written to people who’ve expressed an interest in ‘The Meadows’ in Castletown telling them two-bedroom properties will now cost £168,000.

You can find out more HERE.

Buyers have been told to re-approach their financial advisors and mortgage providers - Mr Thomas told Manx Radio the situation is ‘regrettable’:

You can listen to the full chat with Minister Chris Thomas HERE.