Taylor & Co Property in Abergavenny
The Welsh Government have announced that they are looking to impose greater regulations on second home and holiday let owners in Wales in a bid to prevent local buyers being priced out of the market by increasing property prices, fuelled by low levels of properties coming to the market and continuing strong buyer demand.  Buyers of second homes in Wales already pay more Land Transaction Tax than primary residence seekers and last year, local authorities were given the power to charge 100% council tax increase on second homes. Julie James, the Minister for Climate Change in Wales said "The urgency and gravity of this situation calls for further intervention, which means real and ambitious actions are delivered at pace, to inject fairness back into the housing system”.  If you'd like help understanding the local property market, get in touch with us soon so we can provide advice on your property journey.
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