Open AccessDisplacement of Youth from the Isle of Man: The Role of House Price Inflation
Author(s) -
Brendan Canavan
Publication year - 2011
Publication title -
island studies journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.2
H-Index - 21
ISSN - 1715-2593
DOI - 10.24043/isj.257
Subject(s) - inflation (cosmology) , population , economics , postponement , development economics , demographic economics , sociology , demography , operations management , physics , theoretical physics
Small islands frequently suffer from population decline, especially of young people, putting continuity of community at risk. At the same time, their limited size can mean an intense competition for housing stock, particularly in scenic or economically successful islands which draw investors and migrants: a dynamic that fuels inflation. This paper investigates property inflation on the Isle of Man and its threat of displacing young inhabitants and upsetting social sustainability. Qualitative interviews with young Isle of Man émigrés and residents investigate the influences upon decisions to either remain on, or leave, the island. Whilst prices were not found to be significant in the decisions of those that have left, they were very much so for those who wished to remain. Those who have left claimed to have done so in order to improve their financial and personal options, but most did not necessarily want to leave. The overall result is distress, work disenchantment, family postponement and potentially, rising xenophobia.