Welsh agents urged to share housing market insights

Welsh agents urged to share housing market insights

0:03 AM, 1st October 2024, About A week ago

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Letting agents are being urged to contribute to an initiative exploring the impact of Welsh Government policies on the housing market that are popular with visitors.

The Wales Tourism Alliance and Propertymark are inviting agents to share their firsthand observations and experiences over short-term, and holiday lets in Wales.

One of the issues is second homeowners selling up – but their homes are not leading to an increase in affordable properties to buy.

Now politicians in Wales are asking whether the policies are delivering ‘unintended consequences’.

‘Selling up in areas of Wales’

Suzy Davies, the chair of the Wales Tourism Alliance, said: “There are a range of reasons why owners are selling up in areas of Wales where tourism is a major part of the local economy.

“However, the Welsh Government’s own research suggests that its policies are a number one concern with professional holiday accommodation businesses inadvertently caught up in the drive to control the number of second homes.

“Current observations suggest that second homes coming back onto the market are not improving the supply of affordable housing for local people.

“At the same time, genuine local businesses, misdescribed as second homes, are also having to sell up when they aren’t really the policy’s target – again without providing efficient, affordable homes.”

She adds: “However, we wanted to test what we were told by our own members by gathering feedback from estate agents about what is happening to the housing market in these parts of Wales; whether Welsh Government policy is achieving its stated aims, and what any collateral damage looks like.”

Government policies and the housing market

The information will be presented to the Cabinet Secretary, Jayne Bryant MS, next month with the aim of shedding light on the complex interplay between Welsh Government policies and the housing market.

The Alliance, which represents a diverse range of tourism businesses and organisations across Wales, is collaborating with Mid Wales Tourism, North Wales Tourism and Visit Pembroke to gain a deeper understanding of the effects of various government policies in these areas.

Propertymark’s policy and campaigns officer, Tim Thomas, said: “Propertymark is very happy to act as an independent partner to this important research.

“The Welsh Government has implemented a series of policies to regulate short-term and holiday lets in Wales.

“I am confident our members and any other property agents wishing to take part in the study, will provide insightful feedback on the impact the legislation is having on housing, tourism and the overall impact on the Welsh economy.”


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