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Fall in house sales during 2011

There is bad news from the Manx government for people who are trying to sell properties, with a dramatic fall in the number of transactions.

This year, provisional figures from the Council of Ministers show almost 650 houses in the Isle of Man have been sold, compared to more than 1,500 three years ago.

It's even worse for flat owners, with 137 sales in the past year compared to almost 400 in 2008.

The quarterly economic report also shows the average price of an apartment has dropped by more than £10,000 since last June.

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