More property sales in February, but average price falls

Twice as many properties sold in February compared to January

The local property market gathered pace in February with nearly double the number of completed transactions compared to January.

Data published by the website propertyprices.im shows 84 sales were recorded in January and 164 in February.

The number of transactions in February suggests the local property market is in good health. 

One local estate agency reports particularly strong interest at the higher end of the market, from people wishing to move to the Island.

Meanwhile property prices appear to be relatively stable - levelling off from the highs of recent times.

During January total sales amounted to just over £31 million representing an average price of around £369,000 per unit.

February was much busier with transactions totalling nearly £54 million, though the average price per sale dropped to under £328,000.