Excessive competition is understood to be why first-time buyers will struggle
Manx property agents are confident the market will remain resilient throughout the course of this year.
Despite rising energy bills and the Bank of England's announcement to increase interest rates which are further squeezing households of their finances and disposable income.
British banking brand Halifax recently predicted house price growth was set to slow 'considerably' in the coming year.
How does the Manx property market compare with the current goings on that are being seen in the UK?
Manx Radio's Christian Jones discussed the details with director of Manx Move, Graham Wilson:
Onchan MHK confident in 'integrity' of those involved in election process
"We've even found sharp knives": Charity shop appeal after donations left outside
Hand, foot and mouth disease not a notifiable condition says Public Health
Postponed fireworks display not down to 'bad organisation'