IoM house prices rise more than 7%

The average house price on the Isle of Man increased by more than 7% in a single year.

That's according to a new government report- the 2020 housing market review.

The publication shows the average house price in December 2020 to have been £313,036- compared with £291,597 in December 2019. 

Average flat prices also increased by 0.7%.

More than half of all properties sold in 2019 and 2020 cost between £250,000 and £500,000, with house prices for those aged 25 and under, costing nearly 10 times the median salary.

You can read the full report here.