Housing Market Picking Up In Scilly

hugh town housesThe islands’ longest established estate agent says properties are starting to sell in Scilly but vendors need to be realistic about price.

Tony Dingley of Island Properties says that resale values have slumped to their 2005 levels.

But that means that a place on the islands, particularly flats, is now more affordable for people.

Tony says in the last six months he’s seen two sales at around £65,000 and £110,000, which a few years ago would have been closer to £100,000 and £150,000.

Tony thinks that Scilly property prices will now rise and fall in line with the national market.

But he says that locals who want to move within the islands shouldn’t necessarily be disheartened. He says the majority of people selling a property will buy another so it’s “swings and roundabouts.”

And he thinks it’s a good time for buyers because they’ll get in at the bottom of the market

People come to Scilly and buy property to be part of the place rather than to make money, Tony says, so it’s always going to be “an emotive buy.”

And whilst Scilly’s MP Andrew George wants legislation to prevent second homeowners forcing locals out of the affordable housing market, Tony doesn’t think the holiday home sector is to blame.

He believes that without the number of second homeowners on Scilly, our economy just wouldn’t work. And he thinks the Council could take a lead in driving schemes that allow islanders to get on the property ladder.

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