The Isle of Man Government’s latest Isle of Man in Numbers Report has just been published and while it’s full of facts and figures, we’ve picked out the ones that really matter if you’re thinking about buying or selling this year.
It’s a market that’s evolving. Steady, confident, and full of opportunity if you know where to look.
What’s happening with prices?
Good news for homeowners, average house prices are holding strong. Over the past 12 months, the average Manx home price has risen gently by 1.6% to £384,179, while flat prices saw a slightly bigger increase of 4.2%, now averaging £207,104.
That means values are staying healthy without the dramatic swings we’ve seen elsewhere, a sign of a stable, confident local market.
Are people still buying?
Yes, and then some! House sales were up this year (1,212 compared to 1,183), showing that despite wider cost-of-living pressures, buyers are still active especially for well-presented homes in great locations.
Flat sales dipped a little, which could reflect limited stock rather than demand.
What about affordability?
Affordability remains a challenge, with the average home now costing around 8 times the average salary but there are signs of resilience. Mortgage lending rose by nearly £10 million in 2024, which suggests more people are finding creative ways to make their move.
Whether that’s through shared ownership, family support, or simply saving smart, it’s encouraging to see confidence returning.
What does this mean for you?
If you’re thinking about selling, these figures show a market that’s holding steady. One where well-priced, well-marketed homes are still selling quickly.
If you’re hoping to buy, there’s reason to stay optimistic. Understanding the numbers is a great first step and with the right advice, finding the right home might be closer than you think.
At Koops & Co, we’re here to make sense of the numbers and help you make decisions that feel right for you.
Whether you’re curious about your home’s value, looking for your next move, or just want to chat about what’s happening locally, we’d love to help.
Book your free valuation on our website or contact our team today.
