Property sales across the Isle of Man increased sharply in September, with Land Registry figures showing 208 properties changed hands, up 71.9% on the previous month.
The total value of sales reached £67.6 million, a rise of 67.9%, while the average sale price slipped slightly by 2.3% to £325,156.
Among the properties sold was a house in Kirk Michael, which changed hands for £419,950. Records show it was previously purchased for £200,000 in 2015, representing an increase of almost £220,000, or around 110%, over more than 11 years.
House Prices
Another house in Kirk Michael sold for £370,000 in September. The property last changed hands for £185,000 in 2017, meaning its value doubled over a period of just under 10 years.
The same property had previously sold for £140,000 in 2006, highlighting how values have risen over the longer term.
From its 2006 purchase price to its latest sale, the property’s value increased by £230,000, or around 164%.
Meanwhile, another house in the village sold for £327,500. Having previously been purchased for £190,000 in February 2020, the latest sale represented an increase of £137,500, or 72.4%, in just over six years.
