Aside from Article 4, government reforms have impacted demand, especially in Pembrokeshire, says Carol Peett of West Wales Property Finders http://www.westwalespropertyfinders.co.uk.
In England, to qualify for business rates, a holiday home must be available for letting 140 nights a year and actually let for 70, but in Wales it has to be available for 252 nights and commercially let for 182 or more.
“If a cottage does not meet these totally unrealistic numbers the owner has to pay council tax which can be up to a premium of 300pc of standard council tax,” she says.
This was designed to make more homes available to local families, yet the majority of holiday cottages are totally unsuitable for these, she says.
“They require practical housing near amenities like schools and workplaces, and not chocolate-box properties by the sea or in the mountains.”
Many of these smaller holiday lets were owned by local people as pension investments or farmers who converted unused barns into holiday lets, she says.
“It also hit families who have for years rented the cheaper holiday cottages that are no longer available.”
That said, she says that people who are buying high-end holiday homes for their own use are still finding the money to cover extra council tax. These are spending £1m-plus and three-quarters are from London.
The Daily Telegraph – 17th July 2024 – https://www.telegraph.co.uk/money/property/second-homes/end-holiday-let-dream/
If you are looking for a property in Pembrokeshire, Carmarthenshire or Ceredigion, give West Wales Property Finders a call on 01834 862816 / 077966 15332. We can find your perfect property for you whilst saving you time, stress and often money too.
