Figures show prices rose between June and July
A sharp, 4 per cent drop in the average property price in the UK over the past year, hasn't been mirrored in the Isle of Man.
Despite anecdotal evidence that the local market has slowed down, figures from propertyprices.im suggest the average sale price in July was around £12,000 higher than the previous month.
The average price is taken from the total number of sales during the month. There were more sales recorded in June than July - with totals of 122 and 104 respectively.
Sales in June totalled £36,272,399 whereas the July figure was £41,098,244.
The figures for the two months provide no more than a snapshot of the market and can be distorted by the number of high value properties sold in the respective months. But they suggest the Island's housing market is in better health than the UK's, despite the big rise in mortgage costs as a result of successive interest rate hikes.
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