TSB BANK has announced a substantial reduction in its physical presence, with plans to shutter 36 branches across the UK.

This move is anticipated to result in the termination of approximately 250 jobs.

A spokesperson for TSB remarked, “The decision to close a branch is never taken lightly, but our customers are now predominantly engaging in digital banking activities, necessitating a recalibration towards a more balanced provision of digital and in-person services.”

The banking giant has emphasised its enduring commitment to maintaining a national branch network while highlighting the expansion of alternative banking avenues such as video, telephone, and digital services.

The affected branches, as outlined by TSB’s official website, are as follows:

• Alloa
• Bedworth
• Birmingham, Pype Hayes
• Bridlington
• Buxton
• Carmarthen, Blue Street
• Cwmbran, General Rees Square
• Dovercourt
• Edinburgh, Leith
• Felixstowe
• Frome
• Glasgow, Cardonald
• Glasgow, Castlemilk
• Haddington
• Hounslow
• Lerwick
• Leven
• London, Bethnal Green
• London, Clapham
• Longton
• Manchester, Middleton
• Newcastle Upon Tyne, Milvain
• Peterhead
• Sheerness
• Stornoway
• Torquay, St Marychurch
• Whitehaven
• Amble
• Aylsham
• Banff
• Bedlington
• Bude
• Crook
• Flint
• Tenbury Wells
• Whitchurch

The closures are expected to be implemented gradually, beginning this year, marking a significant transition in TSB’s operational strategy amidst the evolving landscape of banking preferences.

HOME sales continued to increase in number in Wales during April according to the latest Royal Institution of Chartered Surveyors (RICS) Residential Market Survey as a higher number of listings and good buyer demand led to more transactions taking place.

A net balance of 35% of surveyors in Wales reported that house sales rose through the month of April, the fifth consecutive month that this balance has been on an upward trajectory. Surveyors in Wales also appear optimistic on the short-term outlook for sales, with a net balance of 14% of surveyors anticipating a rise over the next three months. This balance is the second highest across all UK regions, after Northern Ireland.

New buyer demand is also said to have risen through April according to the survey. A net balance of 37% of respondents in Wales reported that new buyer enquiries had increased.

On the supply side, a net balance of 47% of respondents in Wales note that new instructions to sell had risen. This is at a faster rate than was seen in March when the net balance was 41%.

However, surveyors are not as positive on the pricing front. A net balance of -8% of surveyors in Wales reported that house prices have fallen over the past three months, which is just below the UK average which sits at a net balance of -5%.

Looking forward on house pricing, a net balance of -15% of Welsh surveyors expect that prices will edge lower over the next quarter.

The intense demand for rental property appears to have softened a little in April. A net balance of 17% of surveyors in Wales noted a rise in tenant demand for rental properties which is down from 50% in March. Supply of rental property is said to have fallen flat through April. On the expectations front, a net balance of 17% of respondents in Wales anticipate that prices will rise over the next three-month period.

Commenting on the sales market, Melfyn Williams, MRICS of Williams & Goodwin The Property People Ltd, in Anglesey said: “The property market in our areas is showing promising signs of activity, particularly at the lower end. Homes in this bracket are ticking over nicely, keeping the market vibrant and buoyant.”

Anthony Filice, FRICS, of Kelvin Francis Ltd in Cardiff said: “There was a marked increase in listings, viewings and sales agreed across all price ranges, even over £1,000,000. There is a wide choice of properties, and if sensibly priced, are selling well. There is confidence, but it is still a buyers’ market.”

Discussing the rental market, Paul Lucas, FRICS of R.K.Lucas & Son in Haverfordwest added: “Demand for all types of property remains in a dwindling supply. Many landlords are leaving the letting market.”

Regarding the UK picture, Simon Rubinsohn, Chief Economist, RICS, comments: “Feedback to the latest RICS survey demonstrates the sensitivity of the sales market to interest rates at the present time, given the continuing challenge around affordability.

“A modest back up in mortgage pricing has contributed to the flatlining in the buyer enquiries metric over the past month, as well as the slightly more cautious signals around near-term expectations.

“That said, there is still a strong perception that activity in the market will pick up in the latter part of the year and into 2025, irrespective of any political uncertainty around the general election.

“As far as the lettings market is concerned, an increasing number of respondents are also drawing attention to affordability constraints, and this is reflected in a more modest pace of rental growth. But a fundamental problem in the market across much of the country remains the imbalance between demand and supply with new instructions continuing to decline”.

Paul Butterworth, the CEO of Chambers Wales South East, South West and Mid, has been appointed as the new Vice Chair of the Regional Learning and Skills Partnership (RLSP) for south-west Wales.

Covering Carmarthenshire, Neath Port Talbot, Pembrokeshire and Swansea, the RLSP is dedicated to bridging the gap between education, skills, and regeneration. It aims to ensure that the skills provision is aligned with the economic priorities and opportunities of the region, as well as tackling the new skills landscape that is happening within the energy, construction, manufacturing and digital sectors.

As CEO of Chambers Wales, Paul brings a wealth of experience and a passion for the economic and skills development of Welsh businesses with him to the board.

As the voice of the business community with policymakers, Paul will advocate for enhanced skills training, infrastructure improvements and the creation of skilled jobs, all aimed at creating local economic growth.

Upon his appointment, Paul said: “I am determined to create a better and fairer business landscape for West Wales to ensure that the local economy has the best available skills development for future project development and the transition into the green economy and energy sector to ensure West Wales thrives.”

Jane Lewis, Regional Partnerships Manager at RLSP, said: “We are delighted to have Paul on the board. He will be instrumental in achieving our goals and look forward to the positive impact his appointment will have on the region.”