‘We can’t compete with second homeowners!’: Welsh locals’ fury over rising house prices

There are many factors to blame for the property price hike in Wales, the most obvious being the pandemic.

Since the first national lockdown, thousands of city dwellers relocated to more rural areas, desiring a change of lifestyle as working from home became more viable.

Earlier this year, the number of Londoners who had left the capital during the pandemic was estimated at 700,000, according to a study led by the Economic Statistics Centre of Excellence…..

Carol Peett, owner of property consultant West Wales Property Finders based in Pembrokeshire, also believes rules should be put in place surrounding the purchasing of second homes – in order to solve the problem of unaffordable housing.

She said: “Where there is a massive problem with house prices being pushed up – and out of reach of locals – is in properties under £250,000.

“These are the type of properties that young local families would be able to afford – small terraced houses in places like Tenby, Saundersfoot, and St Davids, which are now being bought up as second homes.”

Carol added: “The simple solution to this would be to prevent properties under £250,000 being sold as second homes.

“At present there is such a lack of stock of cheaper housing due to this that prices are inevitably rising at ridiculous levels.”

Welsh people want the Senedd to listen to their concerns and work to solve the problem before house prices in the country increase further.