House prices continue to fall

Priosyn thie foast tuittym

Y prios meanagh jeh thie ayns Mannin, huitt eh beggan nurree.

Ta'n earroo soit er prios meanagh ny thieyn va creckit.

Hie eh sheese liorish 0.6%, gys daa cheead, nuy as daeed thousane as keead dy lieh punt, coardail rish tuarastal va currit magh ec fo-rheynn tarmaynagh Oik ny Shirveishee.

Towshit gagh raiee, t'eh er ve tuittym neayr's Mee Vayrnt nurree. Agh ta feeuid thieys ginsh skeeal ta beggan anchasley - ta feeuid veanagh thie er nirree liorish jees sy cheead, gys daa cheead, tree feed as un thousane jeig, as daa cheead punt.

My ta priosyn currit myr corrillagh rish faillyn meanagh, she 7.61 va'n earroo nurree, gollrish yn earroo sy vlein roish shen.

Shoh yn earroo s'inshley neayr's mysh y vlein daa housane as jees, ga dy vel eh foddey ny syrjey na v'eh ayns ny bleeantyn kiare feed as jeih.

Agh ta'n staddyssaght cur faaue dy vel eh gaase ny sassey dauesyn ta fo queig bleeaney as feed dy eash, as y corrillagh 9.75. Shen neose veih 10.75 nurree, as t'eh geiyrt er y veoyn ayns ny bleeantyn er y gherrid. She 12.83 va'n corrillagh ayns feed cheead as nane-jeig.

Huitt y prios meanagh jeh cummal rey liorish 15% ayns feed cheead as shey-jeig, gys keead as nuy-jeig as feed thousane punt.

House prices continue to fall

There was a slight fall in the average house price in the Isle of Man last year.

The figure is based on the average price of properties sold.

It went down by 0.6%, to £249,150, according to a report published by the Economic Affairs Division of the Cabinet Office. Measured every three months, it's been falling since March last year.

The value of housing tells a slightly different story, though - the average value of a property has risen by two per cent, to £271,200.

In terms of prices as a ratio to average earnngs, the figure stood at 7.61 last year, similar to the year before.

The figure is at its lowest level since about 2002, though far higher than it was in the 1990s.

The statistics do suggest it's getting cheaper for under-25s, though, with the ratio at 9.75. That's down from 10.75 the previous year and continues the ongoing tres of the last few years. The ratio was 12.83 in 2011.

The average flat price fell by 15% in 2016, to £139,000.