House prices in the Isle of Man rose by 1.3% in Q4 2006, according to the latest Halifax House Price Index.
Annual house price inflation now stands at 11.3%, slightly above the UK average of 9.9%. The average price of a house on the Isle of Man is currently £254,087, 36% above the UK average of £186,954. Over the past three years, house prices on the Isle of Man have risen by 13%. This compares with a 33% rise in UK average house prices over the period. Martin Ellis, chief economist at HBOS, commented: "The housing market on the Isle of Man picked up strongly in 2006 with average prices increasing by 11% following a modest decline in 2005. The increase in prices outpaced that for the UK as a who...
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