Government valuation up to ?50k lower than estate agents

The valuation of properties in the Harcroft Meadow housing estate have been called into question at a Tynwald Select Committee.

Residents were giving evidence on the Island's First Time Buyer Scheme; claiming they weren't fully aware of the precise terms when entering into the agreement.

Government owns 30 per cent of the homes as part of the deal, but it was said the government valuation has sometimes been up to £50,000 lower than the type given by local estate agents.

DoI chief executive Nick Black says he doesn't think anything untoward has been taking place: