In Gwynedd, north-west Wales, house prices have dropped by over 12% from last year following the local council's new regulations on second homes. Cyngor Gwynedd now requires planning permission to convert residential properties into second homes or holiday lets. Additionally, they've raised the council tax premium on such properties from 100% to 150% in 2023. These measures aim to make more high-quality, affordable homes available to locals. This decline is the largest annual decrease recorded in the Principality Building Society's Wales House Price Index for the final quarter of 2024. More Here - BBC News Article.
