House prices on the Isle of Man took a huge tumble last year, according to government data.
The Treasury’s quarterly digest of economic and social statistics shows in 2012 the average house price was ?282,743 – but in 2013 that figure was just ?259,433, a drop of nine per cent.
Median house prices fared even worse, dropping more than 13 per cent from ?250,000 to just ?220,000.
Over the same period, the number of houses built fell by almost a third, from just over 300 to slightly more than 200.
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