Business

Welsh home sales increase but pricing comes under pressure

Published

6 months ago

May 8, 2024

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”.

Business

Upgrades completed at Port of Milford Haven’s simulator suite

Published

3 days ago

November 14, 2024

Tom Sinclair

UPGRADES have been completed to state-of-the-art equipment within the Port of Milford Haven’s navigation simulator suite at Milford Waterfront enabling marine professionals to receive bespoke specialist training. The virtual reality simulation system can safely replicate a range of scenarios that seafarers may experience in real world situations such as extreme weather conditions, emergency situations and escort tug work.

The upgrades provided by Netherlands-based company MARIN contain the latest hardware in terms of processing power and graphics, as well as upgrades to MARIN’s ‘Dolphin’ software, increasing the capability to create scenarios. These are complemented with new 4k visuals on 75” screens which increase the depth and field of vision, adding to the realism.

Recently, a training day was led by Training Pilot Captain Mark Johnson, assisted by ex-Pilot Andy Hillier, involving members of the Svitzer team as well as Pilots Matt Roberts and Ian Coombes. As part of the scenario, they were faced with a loss of engine power and steering along with worsening weather and sea conditions. The Pilots had to communicate with Svitzer in order to successfully instruct them on how to tow and direct a drifting tanker. While scenarios like these are uncommon within port operations, it is important to rehearse procedures that would be implemented if they are required and enhances participants’ skill sets.

Marine Pilot and Simulator Instructor, Captain Ewan McNicoll, said “This simulator suite has future proofed our training capabilities, both internally for Pilots and marine staff, but also externally for clients wishing to use the facility, be it for training purposes or research and development. We can create any type of scenario with any type of ship, ranging from practicing ship handling manoeuvres to emergency situations, it really is game changing! Working with our partners at MARIN has been a complete success and I am very proud of our new facility.”

For more information about training at the navigation simulation suite please contact the Port of Milford Haven at [email protected] or 01646 696100.

Business

Thousands of homes in rural Wales gain from faster 4G boost

Published

3 days ago

November 14, 2024

Tom Sinclair

RURAL Wales is seeing a major upgrade in mobile connectivity, with faster 4G now live in several areas. Seven locations across North, South West, and West Wales are benefitting from new 4G mast upgrades funded by the UK Government’s Shared Rural Network (SRN), aimed at closing the digital gap between rural and urban areas.

The upgrades, which went live on Thursday (Nov 14), bring improved 4G coverage to communities including Bontddu, Llanelltyd, Llanarmon Dyffryn Ceiriog, Penmaenpool, Tabor, Snowdonia National Park, and Bontgoch. Local businesses, emergency services, and residents are expected to benefit from faster internet access, which supports daily communication, business opportunities, and economic growth.

***There is a £170 million agreement with Openreach to provide gigabit-capable broadband to 70,000 remote Welsh properties***

Technology Secretary Peter Kyle said: “Fast, reliable connectivity is essential for modern life and should be available from Cardiff to the remotest parts of Wales. Today’s upgrades bring us closer to making this a reality.”

SUPPORTING DIGITAL INCLUSION

As part of the rollout, Peter Kyle and Telecoms Minister Sir Chris Bryant visited Ebbw Vale to discuss digital inclusion with charity and industry leaders. They met with representatives at BGfm, a digital inclusion hub in Blaenau Gwent, to learn about how connectivity impacts daily life in Welsh communities.

Telecoms Minister Bryant said: “We are working tirelessly to make sure rural communities aren’t left behind online.

“These upgrades mean businesses can now operate without connectivity limitations, 999 services are better equipped to respond, and residents and tourists can stay connected across the Welsh countryside.”

ADDRESSING CONNECTIVITY GAPS

An estimated 1.5 million homes across the UK remain without internet access, limiting people’s ability to access essential services such as banking and healthcare. In addition to the SRN upgrades, the Chancellor has allocated over £500 million in next year’s budget for digital infrastructure expansion, targeting these underserved areas.

Welsh Secretary Jo Stevens highlighted the importance of this investment, particularly for rural Wales, where fast, reliable internet can be transformative.

“Connectivity is critical for day-to-day life in rural areas – from supporting local businesses to ensuring emergency services are just a call away,” Stevens said.

The upgraded masts, previously limited to EE customers and emergency 999 calls, now serve a wider user base, bringing essential internet access to more people without requiring new infrastructure.

Ben Roome, CEO of Digital Mobile Spectrum Limited, said: “With the activation of five new SRN sites, Wales is seeing the tangible benefits of the Shared Rural Network, bringing crucial connectivity to rural communities.”

GOVERNMENT INVESTMENT IN REMOTE WALES

The improvements come alongside a £170 million agreement with Openreach to provide gigabit-capable broadband to 70,000 remote Welsh properties, helping future-proof digital access in even the most isolated locations.

The latest upgrades mark another step in the Government’s mission to improve mobile coverage and close the connectivity gap across Wales, creating opportunities and supporting economic growth across rural communities.

Business

Pembrokeshire Coast National Park Authority invites businesses to advertise in mag

Published

3 days ago

November 14, 2024

Tom Sinclair

As 2024 comes to a close, Pembrokeshire Coast National Park Authority is encouraging local businesses to prepare for the year ahead by reserving advertising space in Coast to Coast, Pembrokeshire’s highly regarded, award-winning visitor magazine.

Launching its 43rd edition in Easter 2025, Coast to Coast provides a prime opportunity for businesses to reach a wide audience, with a readership exceeding one million people.

The bilingual publication, distributed across Pembrokeshire’s busiest locations and parts of Carmarthenshire and Ceredigion during peak tourism months, is a valuable resource for both visitors and residents. From unique products and delicious offerings to exciting experiences, businesses of all types can benefit from the exposure Coast to Coast offers. The magazine is available in hundreds of outlets countywide and has become an essential guide for anyone looking to explore the best of Pembrokeshire.

“Over the years, Coast to Coast has established itself as the must-have summer guide, packed with inspiration for exploring the Park,” said Marie Parkin, Head of Marketing and Communications for the Authority. “In addition to showcasing our visitor attractions such as Carew Castle and Tidal Mill, Castell Henllys Iron Age Village and Oriel y Parc, National Park Discovery Centre, the magazine includes practical information like maps, bus schedules and tide tables.”

“From scenic walks and beach days to rich insights into the Park’s heritage, culture, and wildlife, Coast to Coast offers something for everyone. Our Activities and Events listings ensure families can enjoy a full calendar of experiences,” Marie Parkin added.

With advertising deadlines set for early January 2025, businesses are encouraged to act swiftly to secure their spot and avoid disappointment.

For more information about advertising in Coast to Coast, please contact [email protected] or call 01646 624895.