Business
Demand for Welsh homes surges as market sees fastest growth in three years
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.
Business
Welsh Water slammed after thousands were left without water
DWR CYMRU has been slammed by a councillor who warned people “could have died” after thousands were left without water.
Tens of thousands of residents across the county were left without water after a mains burst at a treatment plant in Dolgarrog last week.
Welsh Water said supplies were restored to homes and businesses on Monday morning.
The chairwoman of Conwy’s finance committee slammed Dwr Cymru during a meeting at the council’s Bodlondeb HQ on Monday.
Old Colwyn councillor Cheryl Carlisle thanked volunteers and council staff for pulling together before calling for a public inquiry into the crisis.
Security guards
Cllr Carlisle claimed those in poor health had been left without water and said security guards at water stations had turned people away with small children.
“I’d like to take the time to thank everyone that’s being involved in the crisis in Conwy over the last six days, the selfless volunteers, everyone that provided water and help to the elderly and vulnerable, and also the engineers for fixing the problem and our social care staff and the other staff who have helped keep our nursing homes going, our care homes, and (looked after) the most vulnerable,” she said.
“On a different note, there will need to be an inquiry, won’t there, into the crisis response from Dwr Cymru.
“You cannot fault the engineers, but the delays in basic organisation, like setting up the water stations.
“It was 48 hours in my particular community. Without the volunteers, it would have been very, very serious, indeed, for those with health conditions.”
She added: “The priority lists of Dwr Cymru did not work.
“There were people on it that were still undelivered (not had water delivered) as was last night [Sunday], cancer patients, dialysis patients. This is completely unacceptable.
“Security guards turned away members (of the public) with little children. That was absolutely unacceptable as well.
“I think this has brought out the very best in people and, in just a few, the very worst. There needs to be a clear disaster plan going forward.”
Cllr Carlisle then insisted an inquiry was needed after Cllr Goronwy Edwards suggested a review.
She added: “I think it needs to be something more than a review, given the seriousness.
“People could have died, those with (serious health conditions). I don’t think we should downplay anything until everyone has come through this intact.”
Conwy Council leader Cllr Charlie McCoubrey also thanked those councillors and members of the public “who had gone above and beyond to look after their communities”.
He added the authority was now in a recovery phase with some households still without water and some schools affected.
“Clearly, with any major incident, questions need to be asked about could this have been prevented, was the response adequate, and what happens in the future in terms of how we coordinate things and prevent incidents like that happening again?”
Cllr McCoubrey said he was working with Welsh Government to get answers from Dwr Cymru.
Report by Richard Evans, Local Democracy Reporter
Business
Decision due on development of buildings at Trewern Farm
A CALL to let a 950-herd north Pembrokeshire dairy farm keep a farm shed built without permission over a decade ago is expected to be approved later this month.
In an application recommended for conditional approval at Pembrokeshire Coast National Park’s development management committee meeting of January 29, Trewern Farms Ltd is seeking permission for the retention of the agricultural building and lay down area at Trewern Farm, Felindre Farchog.
The application is part of a wider complex planning history associated with the site.
A report for Park planners says: “Trewern Farm is operated as a zero grazing style dairy farm with 304 hectares located on two separate parcels of land, one at Trewern with the remainder being at Penpedwast, adjacent to Castell Henllys. The farm has a dairy herd of approximately 950 cows.
“Trewern Farm has expanded significantly over recent years with many of the buildings and structures on site having been erected without the prior benefit of planning permission, and having since been regularised through a combination of retrospective applications and certificates of lawfulness.
“The building subject of this application is believed to have been constructed in 2014. The site currently comprises an agricultural shed immediately adjoining another shed and is used for cubicle housing.
“A slurry lagoon, silage clamps and 12 of the newer agricultural buildings are now lawful as Certificates of Lawfulness were granted for these whilst the Authority was awaiting an Environmental Impact Assessment to be submitted by the applicants for the 2015 planning application to regularise the unauthorised buildings.
“However, this is the last of the outstanding agricultural buildings which are not lawful, and an enforcement notice was served in May 2018 requiring its removal. This notice was appealed in November 2019 and is currently being held in abeyance by the Planning Inspectorate.”
It says the building referred to in the application “is described as being designed to house cattle in a series of cubicles, and forms part of a longer set of buildings running along the southern section of the farming complex,” adding: “The livestock numbers are not proposed for increase as a result of this application but will be as secured [by a planning consent] restricted to no more than 960 milking cows with 1020 maximum excluding calves.”
Local community council Nevern has previously said it has “grave concerns” about the application, asking, amongst other things, how the 960 cattle limit will be policed and important nearby woodland will be protected.
The application was previously recommended for approval at the park’s December meeting, but was deferred as not all received documentation had been published on the national park’s planning website.
The application is now returning to the January meeting, again recommended for conditional approval.
Business
Castell Howell launches new Food Show at Welsh International Culinary Championships
CASTELL HOWELL has launched a new Food Show, showcasing the food trends and innovations that the hospitality industry can expect to see in 2025 and giving visitors a preview of its growing range of Welsh food and drink products.
The new industry event is taking place alongside the 2025 Welsh International Culinary Championships (WICC) at the International Conference Centre in Newport from 20-22 January.
Castell Howell managing director Matt Lewis said: “The Castell Howell Food Show will be a new highlight in this three-day celebration of Welsh culinary excellence, hospitality skills, and innovation. As the largest wholesale supplier of Welsh Food & Drink, it gives us the opportunity to champion our excellent Welsh producers, to support hospitality customers in developing their businesses and, ultimately, to help our communities and local economies throughout Wales to thrive.
“Visitors will have the unique opportunity to engage directly with Castell Howell specialists representing every aspect of our business from insights into the latest trends, to discovering what’s in the pipeline for Welsh food and drink producers in 2025,” he said.
The Castell Howell Food Show will be a new annual event in the calendar at the start of the year, serving as a preview for its larger established trade shows, hosted at Parc y Scarlets in Llanelli and Parc Eirias in Conwy.
The Welsh International Culinary Championships, organised by the Culinary Association of Wales, bring together the nation’s most talented craft chefs, butchers, and front-of-house professionals for three days of demanding competition. The 2025 WICC also hosts the Skills Competition Wales hospitality finals, showcasing the country’s top apprentices.
Deputy First Minister, with responsibility for Climate Change and Rural Affairs, Huw Irranca-Davies, said:
“These two events promise to be a fantastic showcase for Wales’ food and drink industry. It’s an opportunity to celebrate Wales’ culinary excellence and the strength of our hospitality sector. Castell Howell plays an important role in supporting Welsh farmers, producers and the hospitality sector – and I wish them well with this new event.”
Further information about the event is at foodshow.wales
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