Business

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

Published

2 years ago

September 12, 2024

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

Kurtz’s best local pub competition nears 1,000 nominations

Published

13 hours ago

March 18, 2026

Tom Sinclair

Community-backed contest highlights vital role of Pembrokeshire pubs

THE BEST Local Pub Competition is closing in on a major milestone, with nearly 1,000 nominations submitted by residents across Pembrokeshire celebrating their favourite local venues.

The competition, launched last year by Member of the Senedd Samuel Kurtz, aims to recognise the importance of local pubs and support them during the quieter winter months.

Now in its second year, the initiative continues to shine a spotlight on the vital role pubs play in bringing communities together.

The competition is sponsored by Templeton Beer, Wine & Spirit Co., a well-known local supplier supporting hospitality businesses across the region.

Last year, The Ivybush in Narberth was crowned the inaugural winner after receiving strong backing from the local community. The award recognised the pub’s welcoming atmosphere and its role as a hub for both residents and visitors.

Samuel Kurtz MS said: “Local pubs are at the heart of our communities, providing places for people to meet, celebrate and support one another. I launched this competition to give something back to these fantastic businesses, particularly during the quieter months when trade can be more challenging.

“Changes to Business Rates have had a real impact on the sector, alongside rising costs such as staffing and electricity, which are threatening the survival of many pubs. That is why this competition is such an important reminder of how much we value them.

“It’s brilliant to see nearly 1,000 nominations, with a few days still to go before the competition closes on Friday (Mar 20).”

Residents are invited to nominate pubs that stand out for their community spirit, service, and contribution to local life. The winning venue will receive a free barrel of standard beer and be crowned Best Local Pub 2026.

Samuel added: “If you haven’t nominated your local yet, there is still time.”

To take part, visit www.samuelkurtz.wales and search ‘campaigns’ to nominate your Best Local Pub.

Business

Jewellery roadshow in Lamphey today with cash offers for valuables

Published

2 days ago

March 17, 2026

Tom Sinclair

A TRAVELLING jewellery and antiques roadshow is in Pembrokeshire today (Tuesday, Mar 17), offering free valuations and on-the-spot cash offers for a wide range of items.

The event is being held at the Best Western Lamphey Court Hotel & Spa and is open until 6:00pm this evening.

Organisers say they are looking to buy “all items of interest”, including gold, silver, rings, watches, coins, military memorabilia and diamond jewellery. Broken jewellery is also accepted, along with items in any condition.

The promotional material states there are no fees, no commissions and no obligation to sell, with free appraisals available to anyone who brings items along.

They are also advertising interest in vintage items such as old watches, scientific instruments, medal groups and even classic cars and motorbikes.

A follow-up event will take place tomorrow (Wednesday, Mar 18) at Hotel Mariners in Haverfordwest, running from 10:00am until 9:00pm, with late appointments available.

A third and final stop is scheduled for Thursday (Mar 19) at Wolfscastle Country Hotel, open from 10:00am until 6:00pm.

Organisers can be contacted on 07544 074 549, and also invite people to send photos via WhatsApp for a preliminary valuation.

Top prices paid: The jewellery and antiques roadshow is in Lamphey today before moving on to Haverfordwest and Wolfscastle (Pic: supplied).

Business

Welsh businesses secure £436m in export sales with government support

Published

2 days ago

March 17, 2026

Tom Sinclair

WELSH businesses have secured £436 million in new export sales over the past five years with support from the Welsh Government, the Cabinet Secretary for Economy Rebecca Evans said at the Explore Export Wales conference in Llandudno on Tuesday (Mar 18).

Exports account for more than a third of Wales’ GDP and remain central to the Welsh Government’s ambition to grow the economy and create new jobs.

Since the launch of the Export Action Plan in 2020, nearly 1,500 Welsh businesses have been supported to export for the first time or expand into new international markets. During that time the Welsh Government has organised 89 trade missions, taking 844 business representatives to markets around the world.

International Trade Advisors have also held around 6,000 face-to-face meetings with businesses and delivered more than 430 export market research projects. Over 600 overseas business development visits have been supported, including trips to Kenya, Vietnam, Argentina and South Korea.

The Export Cluster programme now provides peer-to-peer support across six priority sectors and has attracted more than 350 members. Meanwhile the New Exporter Programme has supported 68 businesses taking their first steps into international markets, with a sixth intake now open.

One company benefiting from the programme is Reacta Healthcare, a life sciences business based in north Wales. The firm develops specialist allergy diagnostic products used in clinical trials around the world.

Exports now account for 100 per cent of Reacta’s business. Over the past year the company has expanded its workforce from fifty to eighty employees and secured new clients in Europe and the United States.

The business is now preparing to supply these contracts over the next three years, representing significant growth in both volume and revenue. Reacta is also expanding its Deeside site by 50 per cent with a new facility next to its existing premises.

Belinda Mortell, Head of Commercial at Reacta, said the company’s expansion reflected growing global demand.

She said: “We have recently secured our largest customer contract to date, marking a significant milestone for the business. The growth we’ve seen over the past year, from expanding our team to opening a new facility, is a direct result of increasing international demand.

“The support we’ve received from the Welsh Government has been invaluable and has helped us enter new markets with confidence as we strengthen our international presence.”

Last week the Welsh Government also launched its trade missions programme for 2026-27, aimed at helping businesses showcase their products and services overseas.

The programme will focus on sectors including clean energy, advanced manufacturing, life sciences, creative industries and technology. Trade missions are planned across Europe, North America, Asia and the Middle East as Wales seeks to boost exports, investment and economic growth.

Rebecca Evans said: “Exporting makes a real difference to businesses across Wales, driving economic growth and creating jobs.

“That is why we are investing £3.5 million each year to support Welsh businesses on their export journeys.”