Are local first time buyers struggling due to off-Island buyers wanting investment opportunities?

Are Island first time buyers struggling to purchase properties due to off Island buyers wanting investment opportunities?

The Land, Deeds and Probate Order was amended in May to favour owner-occupiers, with higher fees imposed for those buying off Island.

Douglas North MHK David Ashford asked the Treasury Minister how the recently amended Bill has impacted local residents.

Minister Allinson clarified the latest registration figures, but conceded they're still working out the true picture of how much of a problem it is: