This week Dan and James discuss news regarding the latest property/housing updates as well as the latest updates from the world of mortgages and lending.

Dan looks at Hometracks latest House Price Index which has revealed that the average house price is up 7.8% from the 12 months leading up to January. 

Breaking it further down to regions and areas, we were shocked to learn that Wales has taken the top spot with 11.7% growth! It also shows the second highest growth of 9.7% in the South West.

Link: https://www.hometrack.com/wp-content/uploads/2022/03/UK-House-Price-January-final-PZ-HT-UPDATED-.pdf

Dan also shares information about a council tax clampdown on second homeowners amid soaring house prices - will more parts of Britain follow suit?

Link: https://www.thisismoney.co.uk/property/article-10586245/Wales-announces-council-tax-clampdown-second-homeowners.html

James discusses how the cost of living is likely to ease mortgage demand according to UK Finance

Link: https://www.mortgagestrategy.co.uk/news/cost-of-living-likely-to-ease-mortgage-demand-uk-finance/

James also shares how the majority of fix rate mortgages rises

Dan and James then talk through their property picks of the week. 

Commercial property of the week:

Property Location: 18, Castle Street, Truro

Rightmove Link: https://www.rightmove.co.uk/properties/120878297#/?channel=COM_BUY

Property Type: commercial offices

Guide price: £225,000

Development opportunity description: conversion to residential

Residential property of the week:

Property Location: Penzance 

Rightmove Link: https://www.rightmove.co.uk/properties/120776042

Property Type: 4 bed end of terrace 

Guide price: £168,200

Development opportunity description:  Set over four floors this Victorian end of terrace house is due a full renovation and would make a fabulous elegant family home. 

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