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Demand for Welsh homes surges as market sees fastest growth in three years

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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

Activate West Wales expands its team with appointment of Business Manager

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ACTIVATE WEST WALES, which drives sports and wellbeing collaboration across Carmarthenshire, Pembrokeshire, Swansea and Neath Port Talbot, has appointed Marie Sture as its new Business Manager.

Marie brings more than 10 years’ experience across the Pembrokeshire countryside, conservation, and visitor experience sectors, having worked with organisations including the National Trust, Pembrokeshire County Council and Pembrokeshire Coast National Park Authority.

Her work background spans operational support, compliance, health and safety, finance and stakeholder engagement, alongside experience contributing to senior leadership and regional working groups.

Marie joins the Activate West Wales team, which is working closely with local authorities, health boards and wider sector partners to encourage cross-sector cooperation, to increase engagement in sport, physical activity and active recreation so that it can become part of normal everyday life for everyone nearly four months since it released its State of the Region report, which gave an insight into the sports participation in the region.

Marie, a native of Pembroke Dock, will play a key role in advancing Activate West Wales’ ambition to create healthier, happier communities across the region, regardless of age, background or ability.

On her appointment Marie said “I’m delighted to begin working with a team that is so committed to making a positive difference to people’s lives. Throughout my career across the conservation and visitor experience sectors, I’ve developed a strong passion for creating opportunities that support people’s wellbeing. I’m really looking forward to bringing that experience into this role and working with partners to help build healthier, more active communities across West Wales.”

Marie adds: “Spending time away from screens and being active can be incredibly rewarding. I love getting out with my children and supporting them to take part in sport, it’s been amazing to see how it’s boosted their confidence and helped develop their social skills. Even simple activities like this can bring a real sense of happiness and are so important for overall wellbeing.”

Jamie Rewbridge, CEO of Activate West Wales, said on Marie’s appointment: “We’re delighted to welcome Marie to Activate West Wales. She brings a wealth of experience working with local communities and partners, and we’re confident she will make a significant contribution to our efforts of making physical activity part of everyday life, for everyone across West Wales. Her appointment strengthens our ability to support healthier, happier communities across the region.”

 

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Business

New showroom for car dealership approved by county planners

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PLANS for a new showroom for a Pembrokeshire car dealership which has recently acquired a new Isuzu vehicle franchise, have been given the go-ahead.

In an application to Pembrokeshire County Council, Gareth Hughes Motors of 25 Burton Road, Sardis, through agent Hayston Developments & Planning Ltd, sought permission to replace a temporary canopy with fixed permanent mini-showroom.

A supporting statement said: “Gareth Hughes Motors is a family run enterprise, established in 1982. In order for the business to respond to the latest technological advancements, especially those related to the transition to hybrid and electric vehicles, additional space and different resources will be required.

“Approval of this application will assist in the delivery of these required resources, associated staff training and recruitment for the servicing of electric vehicles will also lead to the retention and provision of skilled employment.”

It says the extension will be designed to allow sufficient space to display Isuzu vehicles, an additional motor franchise recently acquired by the dealership, with no changes proposed to the existing access from the C3007 as the mini-showroom would take place to the rear of the site and replace an existing canopy structure.

It added: “The environmental impacts from the proposal are minimal as the replacement structure takes place on a concreted/bitumac surface which is currently used for the parking of cars. In addition, the design and use of materials complements that of the current showroom and repair shop and by the addition of a bird and bat box on the south-east of the proposed extension.

“The proposed new mini-showroom will accommodate a maximum of two vehicles and would take place to the rear/side of the site and would be constructed in materials which complement those of the existing showroom and service bays.

“Although Gareth Hughes Motors is located within a group of residential properties it is considered that there will be no significant negative impacts on those neighbouring properties because of their distance from the application site, the orientation of the buildings.

“The securing of an additional franchise at this Sardis site will both help secure the future of the existing staff and create opportunities for additional employment in the motor trade.”

The application was conditionally approved by county planners.

 

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Business

The Cheesecake Guy Ltd plans withdrawn following community council objections

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PLANS for what could have been the third store in the country for Welsh cheesecake business The Cheesecake Guy Ltd at Saundersfoot’s Coal Building interpretation centre have been withdrawn.

In an application to Pembrokeshire Coast National Park, Craig Taylor of Merthyr Tydfil-based The Cheesecake Guy Ltd sought a change of use of part of Saundersfoot’s Cambrian Terrace Coal Building interpretation centre to create a small retail unit.

On its website, The Cheesecake Guy says of its business and products: “Established in 2019, The Cheesecake Guy is all about delivering indulgent, handcrafted cheesecake desserts with a twist. While we offer a range of sweet treats, our specialty — and customer favourite — is the signature cheesecake jar.

“Made with quality ingredients and packed with rich, creamy layers, our jars are the perfect dessert for any occasion. Whether you’re treating yourself or sharing with others, The Cheesecake Guy brings a spoonful of happiness to every bite.”

While no supporting statement was published for the Saundersfoot proposal, the application said the scheme, if approved, would employ two full-time members of staff, operating 10am-6pm Mon-Sat, and 10-5 on Sundays and bank holidays.

Of the scheme itself it said it would involve “retail sales of pre-prepared desserts and merchandise,” adding there will be “no on-site manufacturing or heavy processing,” with “equipment limited to display fridges and freezers”.

If approved, the Saundersfoot site would have been the third outlet for The Cheesecake Guy, with sites in Merthyr, and, more recently, Newport Market.

For its Newport site, The Cheesecake Guy says: “We specialise in creating a wide variety of cheesecake desserts that cater to all tastes. Our menu features popular favourites that have won the hearts of many, alongside exciting new creations designed to keep your taste buds satisfied.

“Whether you’re a classic cheesecake lover or an adventurous foodie, we promise a cheesecake experience like no other. Each cheesecake is made with the utmost care, ensuring a rich, creamy texture and a burst of flavour in every slice (or jar!).”

Since the application was submitted, Saundersfoot Community Council objected “on the basis that the harbour is diluting the original intention of this area, which was designed to be an educational section of the development”.

The application is now, as of June 19, marked as withdrawn.

 

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