THE demand for homes in Wales has risen at the fastest rate since 2021, according to the latest Royal Institution of Chartered Surveyors (RICS) Residential Market Survey. The report reveals a surge in buyer enquiries as more properties enter the market.

In August, a net balance of 50% of survey respondents in Wales reported an increase in new buyer enquiries, marking the highest level of activity seen since May 2021. This uptick in demand coincides with a rise in the number of homes available for sale. A net balance of 57% of Welsh respondents reported an increase in new instructions to sell, a sharp jump from 30% in July.

With both demand and supply on the rise, it is no surprise that sales have also seen an uplift. A net balance of 30% of surveyors in Wales reported an increase in newly agreed sales in August, positioning Wales as the second-highest region in the UK, behind Northern Ireland.

Looking ahead, surveyors remain optimistic about the sales outlook, with a net balance of 12% of Welsh respondents expecting sales to increase over the next three months.

However, house prices in Wales have not followed the same upward trend. Over the last three months, a net balance of -30% of Welsh surveyors reported a fall in home prices, which is lower than the UK average, where prices were reported as flat. Welsh surveyors are also cautious about the near-term price outlook, with a net balance of -22% expecting prices to drop further over the next three months.

In the rental market, demand for lettings continued to rise in August, with 50% of Welsh surveyors reporting an increase in tenant demand. However, the supply of rental properties continued to fall, albeit at a slower rate. A net balance of -17% of respondents noted a decline in rental supply, an improvement from the -33% reported in July. With the imbalance between supply and demand persisting, a net balance of 17% of surveyors expect rents to rise over the coming months.

Anthony Filice, FRICS of Kelvin Francis Ltd. in Cardiff, commented on the sales market, saying: “Appraisals and instructions remain strong. While there are fewer viewers, they are more serious, helped by more favourable mortgage rates. Some sellers with unrealistic pricing expectations are adjusting, leading to sales at lower prices than previously achievable.”

Melfyn Williams, MRICS of Williams & Goodwin The Property People Ltd. in Anglesey, added: “The market is active but not as buoyant as before. Buyers are cautious yet still purchasing, and sellers are concerned but continuing to sell. Activity is down, which is typical for August, but overall, the market remains steady despite seasonal and economic factors.”

In the lettings sector, Paul Lucas, FRICS of R.K. Lucas & Son in Haverfordwest, noted: “Rents continue to rise as the availability of property declines. Many landlords and holiday homeowners are selling due to increased taxation and rental regulation pressures.”

On the wider UK market, RICS Chief Economist Simon Rubinsohn highlighted improved sentiment, noting, “The latest RICS survey shows a lift in buyer interest following a modest fall in mortgage rates, with stock levels also inching up. However, there is still a need for realistic pricing to finalise deals, with uncertainty around future interest rate cuts and the forthcoming Budget keeping market sentiment cautious.”

Rubinsohn added that while affordability remains a challenge in the sales market, it is even more pressing in the lettings sector. “The ongoing reduction in rental stock, as landlords downsize their portfolios, is exacerbating the imbalance in the market.”

As the housing market in Wales continues to evolve, the coming months will determine whether the current surge in demand can sustain momentum amidst broader economic uncertainties.

A NEW report by Estyn has highlighted the ongoing negative impact of the COVID-19 pandemic on pupils’ Welsh reading skills, emphasising the importance of promoting reading across the curriculum. The report, published today, explores how Welsh and bilingual schools are developing these crucial skills, revealing significant variations in reading standards among pupils aged 10 to 14.

The report, titled Developing Pupils’ Welsh Reading Skills from 10-14 Years of Age, outlines how the pandemic has affected pupils’ confidence and ability to read and communicate in Welsh. The findings indicate that, despite efforts by schools, many pupils continue to struggle with Welsh reading, and wide disparities remain between primary, secondary, and all-age schools.

Owen Evans, His Majesty’s Chief Inspector of Education and Training in Wales, said: “It is unsurprising that we are still seeing the negative impact of the pandemic on pupils’ Welsh reading skills. However, our new report highlights good practice from schools and offers practical toolkits to help teachers develop pupils’ Welsh reading skills.”

The report identifies Welsh lessons and language sessions, as well as humanities subjects, as key areas where the most effective opportunities to develop reading skills occur. While many primary schools, and a few secondary schools, have successfully promoted reading for pleasure, the overall experiences designed to foster reading outside the classroom have decreased significantly, particularly in secondary schools, since the pandemic.

One of the challenges highlighted in the report is the difficulty of co-ordinating the development of reading skills consistently across different subjects and teachers, especially in secondary schools. This contrasts with primary schools, where a more unified approach is typically easier to implement.

Estyn has called for schools to strengthen opportunities for pupils to develop a broad range of reading skills across the curriculum. The inspectorate recommends that local authorities and the Welsh Government support schools in this endeavour. The report also presents a number of practical recommendations for school leaders, including a suite of toolkits designed to help teaching staff promote and enhance pupils’ reading abilities.

Evans added: “There are clear opportunities to improve how clusters of schools can work together to develop pupils’ reading skills and create more purposeful opportunities to nurture Welsh reading across the curriculum. Improving reading standards is a national priority, and we hope this report will help schools plan strategically to boost pupils’ interest, resilience, and confidence when reading in Welsh.”

Estyn’s report serves as a crucial reminder of the long-lasting effects of the pandemic on education, with a focus on how Welsh reading skills can be improved through a more integrated approach across all subjects. The inspectorate hopes that the report’s findings will spur school leaders, teachers, and policymakers to continue efforts in raising the standard of Welsh reading for pupils across Wales.

Ogi – Wales’s biggest alternative telecoms company – has reached a deal on a new £45million financing package from Cardiff Capital Region (CCR), alongside ongoing equity investment from its principal shareholder, Infracapital, to support the next stages in the company’s growth.

The latest funding package will see Ogi extend its reach in the ten local authority areas that make up CCR (Blaenau Gwent, Bridgend, Caerphilly, Cardiff, Merthyr Tydfil, Monmouthshire, Newport, Rhondda Cynon Taf, Torfaen and the Vale of Glamorgan) where it already has an established presence.

An important region economically, CCR also includes Ogi’s multimillion-pound high-capacity network spanning the south Wales trunk road into England. Built to service the growing need for cloud computing, AI and data storage, and serving the fast-growing fintech and creative sectors, among others, the new diverse route also increases Wales’s appeal to datacentre operators, mobile carriers and hyperscalers.

Securing its first round of investment from Infracapital, the infrastructure equity investment arm of M&G plc, Ogi propelled onto the scene in 2021, bringing full fibre connectivity, telephony, and business IT services to underserved communities across Wales, as well boosting the alternative options available in major cities and new and emerging commercial zones too.

The challenger to the incumbent operators has since built a new fibre to the premise [FTTP] network to over 100,000 premises in south Wales, with 1 in 5 of those already signed up as a customer.

With a distinctive Welsh brand, Ogi roots itself in the communities it serves, with a hyperlocal marketing approach backed by an award-winning community engagement programme that’s given thousands back to local groups and charities.

Each ‘full fibre’ community benefits from a capital injection of around £5million, with the long-term economic impact estimated to be worth almost £5 for every £1 invested. The Ogi network uses more sustainable technology compared to traditional copper connections too, helping more people to work from home, reducing the need to commute, and in turn reducing carbon emissions across the region.

Announcing the deal, Ogi’s Chief Executive Officer, Ben Allwright, said: “Right from the start, our ambition has been to become a leading Welsh telecoms company, and the last few years have certainly laid strong foundations for that goal.

“With key strategic sites like Aberthaw to the south and the heads of the valleys to the north, there’s massive potential across the capital region – and partnering with CCR at such an exciting time in their own development is the next logical step for Ogi’s growth in southeast Wales.

“Together with further investment from our principal shareholder, Infracapital, this is yet another endorsement of our mission to make sure no Welsh community gets left behind.

”I’m immensely proud of the work the team at Ogi are doing across Wales, and this news – another leap forward in Ogi’s development – is testament to their commitment to making sure Wales keeps up to speed with the rest of the UK, and the world.”

Chair, Cardiff Capital Region, Councillor Mary Ann Brocklesby, added: “Ogi has taken regeneration to a new level with its initial investment – connecting communities to new possibilities right across the Cardiff Capital Region and beyond. Our investment into Ogi recognises that ongoing commitment to boosting the region, and the work already being done to bring vital connectivity to some of Wales’s biggest towns and villages”.

Ogi was advised on the transaction by Deloitte and CMS Law acted as legal counsel for Ogi and Infracapital.

Previously announced programmes in communities outside of the 10 local authority areas that make up the Cardiff Capital Region – including Pembrokeshire – will continue as planned.