Property Investors Weekly News: 07/03/2022

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Property Investors Weekly News: 07/03/2022

This week we’ve pulled together some of the hottest news stories around property investment for your reading pleasure! So strap in, turn off the tv and get ready for some updates:

Annual house price growth at fastest pace since 2007: Halifax

Property prices across Britain rose at the fastest pace since 2007 in February this year, hitting a new record high according to Halifax.

At 10.8%, the annual rate of house price growth was the strongest since June 2007. The average cost of a home in Britain now stands at £278,123.

https://www.propertyreporter.co.uk/property/annual-house-price-growth-at-fastest-pace-since-2007-halifax.html

Record rents and house prices pile pressure on UK households

With average house prices now at £278,128 and record rents of more than £1,000 per month this has undoubtably put added pressure on households. Will we be seeing more and more people opting to live in HMOs to save money?

https://www.theguardian.com/money/2022/mar/05/record-rents-house-prices-uk-households

London’s smallest micro flat sells for 80% above asking price

Who fancies living in a “posh” cell?

I don’t think anyone has ever dreamed of living in 7-square-metre micro flat which has crammed into a bed, toilet, shower, sink and microwave. However, London’s smallest property sold for a whopping 80% above its minimum listing price at £90,000.

https://www.theguardian.com/uk-news/2022/feb/23/londons-smallest-microflat-sells-for-80-above-asking-price

Have a great day and we look forward to working with you.

 

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