Business
Expectations for house sales in Wales remain positive despite fall in buyer enquiries

SALES activity in the Welsh housing market is expected to edge upwards over the coming months, according to the latest Royal Institution of Chartered Surveyors (RICS) Residential Market Survey, despite a fall in new buyer enquiries in February.
A net balance of 15% of surveyors in Wales expect sales to rise over the next three months, the fourth consecutive month that this balance has been on an upward trajectory. Anecdotally, the expectation that interest rates will be cut further is a factor in this thinking.
When it comes to demand though, a net balance of -57% of surveyors in Wales noted a fall in new buyer enquiries through the month of February, the lowest this balance has been since August 2023.
Supply levels were also reported to have fallen last month. A net balance of -27% of Welsh respondents noted a decline in new instructions to sell.
Unsurprisingly, with both demand and supply falling, a net balance of -23% of Welsh surveyors said that sales had fallen through February. This is the lowest this balance has been since late 2023.
On the pricing side, a net balance of 6% of survey respondents said that prices have risen over the past three months. Surveyors in Wales though remain cautious on the pricing outlook as a net balance of -29% of respondents anticipating a fall in prices over the next three months.
However, respondents are more positive on the 12-month outlook, with the net balance of surveyors in Wales expecting both prices and sales to increase over the year ahead (net balances of 72% and 57% respectively).
Regarding the lettings market, a net balance of 29% of respondents in Wales report a rise in tenant demand, whilst a net balance of 29% of surveyors reported a rise in landlord instructions. Consequentially, Welsh surveyors anticipate that rents will fall flat over the next three months.
Commenting on the sales market, Anthony Filice, FRICS of Kelvin Francis Ltd., in Cardiff said: “There is an increased number of properties coming onto the market, giving buyers confidence to make offers and view more. Vendors who are slow realising this change, still pushing for higher prices, reductions and longer sale times follow. Lower mortgage rates and landlords selling are helping first time buyers.”
Discussing the lettings market, David James, FRICS of James Dean in Brecon noted that there is still a shortage of properties to let.
Commenting on the UK picture, Simon Rubinson, RICS Chief Economist, said:
“The UK housing market appears to be losing some momentum as the expiry of the temporary increase in stamp duty thresholds approaches. Some concerns are also being expressed by respondents about the re-emergence of inflationary pressures and the more uncertain geopolitical environment. That said, looking beyond the next few months, sales activity is seen as likely to resume an upward trend with prices also moving higher.
“A key support for the market continues to be the increased flow of existing stock becoming available, giving buyers a greater choice of options. However, leading indicators around new build remain subdued for now, highlighting the significance of the Planning and Infrastructure Bill introduced to Parliament this week.
“Meanwhile, despite a flatter trend in demand for private rental properties, the key RICS metric capturing rental expectations is still pointing to further increases demonstrating that the challenge around supply spans all tenures.”
Business
‘We can’t carry on as we are’: NRW set to face ‘rough old 12 months’

NATURAL Resources Wales is not out of the woods after making £10m cuts, slashing 250 jobs and receiving a £19m loan to cover an unexpected tax bill, a committee heard.
Llŷr Gruffydd, who chairs the Senedd’s climate committee, warned Natural Resources Wales (NRW) has been in a constant state of evolution and flux for many, many years.
David Henshaw, who chairs the board, said: “We can’t carry on as we are,” with NRW having agreed a target of cutting £10.9m from its budget by April 1.
He told Senedd members NRW’s massively committed workforce has found the “case for change” process really tough, with 256 posts removed and vacancies unfilled.
But he stressed: “Our duty is to face the challenge and actually deal with it.”
Appearing before the committee for scrutiny of NRW’s 2023/24 annual report on March 12, Sir David warned: “It’s going to be a rough old 12 months or so.”
Ceri Davies, acting chief executive, described NRW as being at a pivotal point, with a renewed focus on climate and nature.

She told the committee NRW has been trying to focus more on areas where it is uniquely best placed to deliver such as flood risk, biodiversity, water quality and regulatory work.
“It’s with a heavy heart that we give up some things,” she said.
Ms Davies added that NRW implemented a recruitment freeze, to minimise redundancies as far as possible, which has impacted on current staff.
“But we’re coming out of that now,” she said. “We’re supporting our staff through that and … we will be very shortly releasing opportunities for us to reinvest and to take on new staff.”
The Conservatives’ Janet Finch-Saunders questioned why NRW has an interim chief executive and a chief executive, asking how long the situation will continue.
Sir David replied that chief executive Clare Pillman has been off sick, saying: “She’s on the road to recovery, I think, so that’s why Ceri has been wonderfully acting up for us.”
Ms Davies has been acting up in the £150,000-a-year role since at least November, according to board papers.
Asked about funding in 2025/26, finance director Rachael Cunningham said NRW will have a total forecast budget of £298.3m – representing an annual increase of about £32.5m.
Carolyn Thomas, who chairs the petitions committee, raised public concern about NRW’s plans for its Nant yr Arian, Coed y Brenin and Ynyslas visitor centres.
Her Labour colleague Julie Morgan said the visitor centres are “much more than just a cafe”.
Sir David stressed: “These forests and places are not being closed, let’s be clear … what’s been looked at is the closure of cafes and shops which cost about £1m a year.”
He added: “We weren’t doing massive business in these shops and cafes, they were a big lossmaker … given the challenges of the budget, we had to look very seriously at it.”
On a 6% cut to enforcement, Ms Davies explained NRW has instead prioritised prevention. “When we’re in the enforcement territory, the damage has already been done,” she said.
She told the committee NRW will continue to take action on significant offences as a deterrent, with a 30% increase in enforcement in 2023/24.
Pressed about the Welsh Government having to cover an estimated £19m tax bill for NRW due to off-payroll working, Sir David said a long list of public bodies face a similar situation.
“It’s an issue which has been very difficult for us,” said Sir David, a former chief executive at Liverpool Council. “And there are some questions we need to ask ourselves.”
He added: “Should we have been more aware earlier? Probably, yes. But actually would it have made much difference…? Probably not. We’ve made clear that in terms of employment now, we have none of the issues … so that’s been settled.”
Ms Cunningham declined to provide detail on the extent of liability accepted by NRW following February’s board meeting “because that’s in the hands of HMRC”.
Business
Former Haverfordwest chapel school building could be turned into flats

PLANS to convert the Sunday School building of Haverfordwest’s former Wesleyan Chapel, once the site of a regular place for preaching by John Wesley himself, to six flats have been lodged with Pembrokeshire County Council.
An application to council planners, which has no clear details about the applicant, listing Vitaly + Partners ltd as either the applicant or the agent, seeks the conversion of the Chapel Lane building.
Accompanying documents say Haverfordwest was a regular place of preaching for John Wesley, the founding father of Methodism, first visiting in 1763, with the first chapel built in 1772. By 1781 there were 60 members in the town, the largest congregation in the Pembrokeshire Circuit.
The chapel was rebuilt in 1818 and enlarged in 1835; the adjoining schoolroom built in 1874, with further chapel works in 1880-1.
The chapel closed in 1985 and the interior was stripped for use as an antiques showroom.
A heritage statement accompanying the application says: “The works on internal alternations of former school building started in 2014 after planning permission was approved. Then other records show that works has re-started in 2020. There are previous building inspector assessment notes available for more details. Since there has been numerous of owners and works started again in 2024.”
It adds: “The main factor to support proposed development is in fact it was approved few times in the past. The works already began, and the original layout and external elements are already altered.
“The building was abandoned and not maintained in any way. It did not look pretty and had a negative impact on the residents of the town. The building has had its original use adopted numerous of times to suit the needs of the particular time period and serve the town accordingly.
“The maintenance work to the building has already shown how much cleaner and more beautiful the building appearance became and it has had good impact on the residents who shared their views on social media talking positively about the renovation works on the building.”
The application will be considered by county planners at a later date.
Business
Halfords offering interviews to all staff affected by ATS closures in Wales

HALFORDS extended an offer of interviews to all members of staff affected by the closure of the ATS Euromaster branches in Brecon, Pontypridd and Llanelli
This follows ATS Euromaster’s recent announcement that 86 of its service centres are set to close.
With 639 garages nationwide, including branches in these affected towns, Halfords is one of the UK’s largest employers of automotive technicians. The company services, maintains, and repairs vehicles for 1,400,000 customers annually.
The UK is currently experiencing a shortage of qualified automotive technicians, with the Institute of the Motor Industry (IMI) estimating 20,000 vacancies in the sector.
Halfords remains committed to creating rewarding career pathways, offering opportunities for qualified technicians looking to develop new skills—such as EV servicing—as well as young people entering the industry through apprenticeships.
In addition to supporting ATS employees, Halfords is also stepping in to help customers affected by the closures, ensuring they continue to have access to trusted and competitive automotive services.
Support for ATS customers
To assist those whose bookings are impacted by ATS branch closures, Halfords garages will prioritise MOT and other service bookings originally made with ATS wherever possible, helping customers avoid delays and ensuring their vehicles remain roadworthy.
“We are pleased to be working in partnership with ATS to explore employment opportunities for affected colleagues, while also ensuring that motorists in this part of Wales continue to have access to competitive, convenient, and trusted automotive services,” said Chris Rose, Halfords. Divisional Director
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