Business
Welsh investors weigh up alternatives as property market evolves

Wales sees 3% annual house price rise as investors consider alternative markets
WELSH house prices have risen by 3.0% year-on-year, bringing the average property price to £208,197, according to the latest UK House Price Index Summary: December 2024. While this growth signals confidence in the market, it also presents challenges for investors looking to maintain strong rental yields and affordability.
Wales’ property market in 2024
Some regions in Wales have seen significant increases in house prices over the past year, including:
- Blaenau Gwent (+9.2%) – One of the fastest-growing areas in Wales.
- Rhondda Cynon Taf (+8.9%) – Strong demand pushing prices higher.
- Bridgend (+7.4%) & Cardiff (+5.6%) – Popular locations maintaining steady increases.
While homeowners may welcome this growth, rising property prices are making it increasingly difficult for buy-to-let investors to secure strong returns. Higher purchase prices, particularly in urban centres, are placing pressure on rental yields.
Rental yields under pressure
As house prices rise, rental yields—a key consideration for property investors—are becoming tighter. Cities such as Cardiff and Swansea remain popular for investment, but profitability is being impacted by higher initial purchase costs.
In contrast, Northern Ireland has emerged as the UK’s fastest-growing property market, with house prices increasing 9.0% year-on-year, outpacing Wales (3.0%), England (4.3%), and Scotland (6.9%).
Northern Ireland has also maintained some of the strongest rental yields in the UK. For example, Belfast boasts a 6.1% rental yield, with some areas offering even higher returns. This compares favourably to many parts of Wales, where increasing property prices are limiting rental income growth.
How other home nations are faring
Across the UK, property markets are experiencing varied growth rates:
- Northern Ireland – The fastest-growing market, with prices surging 9.0% to an average of £183,259.
- Scotland – House prices have risen by 5.6%, bringing the average property price to £191,300.
- England – A modest 2.5% increase has brought the average property price to £304,000, with the North West and Midlands outperforming London and the South East.
Brexit’s ongoing influence on UK property investment
Five years after Brexit, its long-term effects continue to shape the UK property market. Wales’ economic ties to both the UK and Europe mean investors must consider how cross-border relationships and market confidence will evolve.
Notably, Northern Ireland’s property sector has remained resilient despite initial concerns over the impact of the Northern Ireland Protocol. The region’s position as a gateway between the UK and the EU has helped sustain investment interest and property price growth.
What this means for Welsh investors
With house prices in Wales rising and rental yields under pressure, investors may need to diversify their portfolios to maintain strong returns. The report suggests that Northern Ireland offers an attractive alternative due to its high rental yields and competitive property prices.
Find out more with the John Minnis Property Investment Guide
The John Minnis Investment Guide 2025 provides an in-depth analysis of:
- UK house price trends
- Rental yield comparisons
- The ongoing impact of Brexit on property markets
- A real-life case study of an investor successfully diversifying their portfolio
Business
Calls for urgent sale of Oakwood site amid trespasser fears

CONCERNS have been raised about trespassers entering the closed Oakwood theme park, prompting calls for a swift sale of the site.
The once-popular attraction near Narberth has become a hotspot for urban explorers and thrill-seekers, with social media videos emerging of people wandering around the abandoned rides and infrastructure.
Since Oakwood shut its gates last month, following a decision by Spanish owners Aspro Parks to cease operations due to falling visitor numbers, locals have raised concerns about safety and the risk of vandalism.
Sam Kurtz MS, who represents Carmarthen West and South Pembrokeshire, said a speedy sale was now vital to prevent further deterioration and potential criminal activity.
“The longer it remains empty, the greater the risk of problems – from trespassing to the site falling into disrepair,” said Mr Kurtz. “There’s also a real risk to health and safety if people are entering unsupervised.”
Mr Kurtz called on Aspro to actively work with the Welsh Government, local businesses, and other stakeholders to secure a new future for the site.
“This is a valuable asset,” he said. “There’s been a lot of interest from businesses already, and I urge Aspro to engage with us so we can get the ball rolling.”
Dyfed-Powys Police confirmed they have received multiple reports of trespassing and possible criminal offences at the site since its closure.
The BBC have reported that Economics expert Professor Calvin Jones, of Cardiff University, was less optimistic about Oakwood’s chances of reopening as a theme park.
“If the existing operator – who’s invested tens of millions – can’t make it viable, it’s unlikely a new operator would be able to,” he said.
Instead, Prof Jones suggested the land might lend itself better to other recreational activities, such as adventure tourism, mountain biking, or zipline attractions, depending on what planning authorities allow.
“Ultimately, the future use of the site will come down to planning permission,” he said. “It may become something entirely different.”
Bluestone National Park Resort, which neighbours Oakwood and employs around 700 people, declined to comment on whether it would consider buying the land. Prof Jones noted that Bluestone has historically expanded cautiously and would likely only consider purchasing the site if the price was low.
The Welsh Government said that it “continues to engage” with Aspro Parks and recognised the former theme park’s importance to the local economy.
A spokesperson said: “We are hopeful a buyer will come forward to ensure this site can continue contributing to tourism in the area.”
Pembrokeshire County Council has confirmed it has not yet held any discussions with Aspro.
Business
Pubs to stay open late for VE Day 80th anniversary

Extended hours to help nation mark milestone in Second World War history
PUBS across England and Wales will be allowed to serve until 1:00am to mark the 80th anniversary of Victory in Europe (VE) Day, the Prime Minister has announced.
The extension applies to the evening of Wednesday, May 8, allowing revellers to continue their celebrations into the early hours of Thursday, May 9.
A series of national events are planned to commemorate the end of the Second World War in Europe, including a military parade through central London, an RAF flypast, and the lighting of more than 2,500 beacons across the UK.
Late opening hours for pubs have previously been granted during major national occasions, including Queen Elizabeth II’s Platinum Jubilee and England’s matches during the Euro 2024 semi-finals and final.
Speaking ahead of the anniversary, Prime Minister Keir Starmer said: “As we mark the 80th anniversary of VE Day, the whole country should come together to remember the incredible sacrifices made by the wartime generation and to celebrate the peace and freedom they secured for us all.
“Keeping our pubs open for longer will give people the opportunity to join in celebrations and raise a glass to all of the men and women who served their country, both overseas and at home.”
The commemorations will begin on Monday, May 5, with Union Flags flying at the Cenotaph in London. A military procession will march from Whitehall to Buckingham Palace, followed by an aerial display by the Royal Air Force. On May 8, the BBC will broadcast a celebratory event live from Horse Guards Parade.
Michael Kill, chief executive of the Night Time Industries Association, welcomed the decision. He said: “At such a challenging time for the hospitality sector, allowing businesses to extend their trading hours during these celebrations offers a much-needed boost while paying tribute to our shared history.”
Business
Greenlink energy link goes live, connecting Pembrokeshire to Ireland

Interconnector brings power boost and green energy potential to Wales and Ireland
A MAJOR new electricity interconnector linking Pembrokeshire and Ireland has gone live, with power now flowing between the two countries for the first time via the Greenlink project.
The 504-megawatt (MW) Greenlink Interconnector connects National Grid’s 400kV substation at Pembroke with EirGrid’s Great Island substation in County Wexford. The link spans 200km, including 160km of high-voltage direct current (HVDC) cable laid beneath the Irish Sea.
The interconnector is expected to improve energy security, increase grid resilience, and support the growth of renewable energy by allowing surplus electricity to be shared between Wales and Ireland.
Greenlink is one of the first privately funded energy infrastructure projects of its kind in Europe. It is owned by Greenlink Interconnector Limited and operated by EirGrid.
At the Welsh end of the link, National Grid carried out a series of upgrades to its Pembroke substation, including the installation of a new gas-insulated switchgear bay inside the existing air-insulated facility. The hybrid solution was designed to be space- and cost-efficient, and it uses a greener insulating gas instead of sulphur hexafluoride (SF6), in line with National Grid’s target to halve SF6 emissions by 2030.
James O’Reilly, CEO of Greenlink Interconnector Limited, described the go-live as a “significant milestone.”
He said: “This is one of the first privately developed and funded energy projects between the UK and Ireland. By enabling the transfer of green energy across borders, Greenlink strengthens energy security, enhances sustainability, and fosters greater connectivity with the wider European market.”
John Twomey, Director of Customer Connections at National Grid, said connecting Greenlink to the network at Pembroke allows both countries to “benefit from that boost in capacity and resilience.”
He said: “As demands on our electricity grids evolve, interconnectors provide immense value by strengthening the security of electricity supplies and improving our collective ability to exploit renewable power produced across borders.”
The converter stations at each end of the interconnector transform electricity between direct current (DC) and alternating current (AC) for use on the respective national grids.
Michael Kelly, interim Chief Operations and Asset Management Officer at EirGrid, said the project was “a vital step forward in strengthening our shared commitment to energy resilience and security.”
He added: “EirGrid is leading the transition to a low carbon future by making Ireland’s grid renewable ready. This latest connection was made possible through collaboration with our UK colleagues and the Greenlink team.”
The interconnector is now fully operational, with electricity flowing across the Irish Sea in both directions.
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