MHK says this is making it harder for people to buy a home
With bank interest rates at record low levels, property has become one of the most sought after areas for people looking to invest.
Arbory, Castletown and Malew MHK Graham Cregeen says this is just one of many factors making it increasingly difficult for people to purchase their own home.
He says he's seen some houses on the new estate being built in Ballasalla already on the market to rent:
Another amber weather warning issued
We're told to expect coastal overtopping at next two high tides
Work underway to re-establish private patients unit
Manx Care aiming to delivery 100 day case procedures by March next year
Last chance to have your say on Steam Packet's new vessel
More than 4,000 responses have been submitted
Port St Mary Commissioners increase rates by eight percent
It says there were 'multiple factors' driving the rise
Public Health launches Island-wide survey on medicinal cannabis use
Residents invited to share experiences and attitudes as researchers assess substance use patterns following law changes