Thank you for your comments Frances. It seems as though there could be more than one explanation then, for the origin of the place-name.
As you mentioned Ballahott, the name rang a bell with me, so I looked up my working notes, which show that one of their children (Richard George) died in 1846 aged 2yrs, when they were 'residing Ballahott, a farm on the road between Castletown and Foxdale near Rushen Abbey'. You are quite correct, they would have still been there in 1851.
I will see if I can spot where those cottages were on a map. It's just great to be able to learn a bit more of where they were and what their lives may have been like, back then. Thank you again.
Marjery