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OPINION: Housing supply has caught up with demand

OPINION: Housing supply has caught up with demand

Wednesday 10 May 2023

OPINION: Housing supply has caught up with demand

Wednesday 10 May 2023

I am most concerned that Deputies Warr and Mézec are outing the future of Jersey because Mezec is unaware of shortage of apartments.

Deputies Warr and Mézec see Jersey in crisis. I don't see any sign of a crisis. Once you get supply and demand balance any perceived crisis will fade away.

We are where we are, today because senior members of our community have grown up and have treated their citizens with respect decency and kindness.

The laws in place today have no signs of crisis about them.


Pictured: "Deputies Warr and Mézec see Jersey in crisis. I don't see any sign of a crisis."

The only sign of crisis put forward by Deputies Warr and Mézec to stir people up into a revolutionary style to implement their form of progress.

I would urge you fellow citizens to think about where we are today. I personally don't see any sign of crise or any reason to scrap what our elders have put in place.

Evolution by is very nature sees in progressions and sees out legislation that no longer applies.

The Minister of Housing and Community has been in his job for less than a year.

I do not believe for one minute that Deputy Warr has the experience or qualifications and knowledge, to throw out all legislation and replace with his own legislation.

We want evolution to work for us, so that we have a quiet, organised well set up laws that will take us forward.

These laws, through evolution will be on going and proposed timeframe of four months should really turn into something approaching 40 years, and even then, there will be new thoughts and ideas, that will be tried and tested so that none of us run around behind a red banner held by Deputies Warr and Mézec.

Seldom do you find left wing policies taking into account the economics of the Island and this is a typical left wing thoughtless plan for them to bring in legislation that will seriously be to the economic detriment of Jersey.

The economics are simple. If rent controls/stabilisation is brought in, landlords will not try to market their properties to their best ability. Landlords will not put in the money to keep standard of their apartments high.

People are always at their best if they are paid to be at their best.

Landlords will not refurbish or redecorate residential apartments because they are not paid to do so.


Pictured: "Landlords will not refurbish or redecorate residential apartments because they are not paid to do so."

With rent control euphemistically called rent stabilisation, fiddling about with leases that have no end of term will have a salutary effect on the housing market.

All you have to do is stand as a crossroads and take a note of the numbers of white vans going about their business. electrician, plumbers, decorators, builders, whitegoods suppliers, plasterers, cleaners etc.

There is an entire industry out there that is dependant on building, whether that is new build or maintaining existing dwellings.

This army of maintenance people will not thank politicians for taking their jobs away.

Deputies Mézec and Warr only have to pull the economic chain to flush away 100's of jobs in the building maintenance sector.

Unfortunately, Deputies Mézec and Warr have not mentioned the dreadful economic experience they are going to put us through. That is a major consideration about how the housing situation in Jersey is handled.

It is my experience having had my great grandfather and grandfather being builders in London from the first to second world war. My experience as a landlord in London and Jersey, over the last 52 years, having suffered rent control on people who were so pleased to be given apartments four shillings per week, came to hate the landlord for not looking after and maintaining their apartments.


Pictured: "There has had to be an increase in new builds to satisfy demand and this has happened."

It is without question that if Deputies Warr and Mézec get their way, landlords will take a negative view of their investments, as I would, and seriously consider where else to place it.

I suspect Deputies Mézec and Warr are sighting levels of rent not seen before in Jersey. There has had to be an increase in new builds to satisfy demand and this has happened. I am told that there are over 1,000 apartments for sale at the moment (March/April 2023).

Over the last two months demand for rental accommodation has softened. Tenants are now beginning to call the shots when it comes to rental values.

My experience is that Lady A rented an apartment from me at Century Buildings from March 2020 for £1,250 per month. The lease came to an end, she wanted to renew, and the rent was increased by £25.00 per month. The rent rose to £1,275. She wanted to stay another year and so I increased the rent by another £25 to £1,300.

Later, she wanted to move back to England and left March 2023. I contacted my letting agent who advised that the rent was too high and that £1,150 was her valuation. It took two to three weeks at the lower rent and we found a tenant. This apartment in Century Buildings is a beautiful, large, modern one bedroom apartment. If rent softening persists, I feel I will be lucky if the rent stays at £1,150. This is evidence that supply has caught up with demand.

Ignore Deputies Mézec and Warr, wait a couple of years and this will tell us if more supply is needed.

David Read
Longueville Road
St Saviour

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