House prices sink as council acts at other homes

According to the new data of the princely state building society in the North-West Wales County, more than 12% has declined from year to year.

Cyngor GwynedD, local authority in Gwynedd, recently introduced a Need to obtain planning permission To convert residential properties into other homes or holidays.

This is one of the many welsh councils that accuse 150% council tax Premium on such assets.

Cyngor Gwynedd said that its purpose was “to increase the availability of high quality, affordable homes for the local people”.

The decline in the price represents the largest annual decline of any region in the Wales House Price Index, covering the sale of residential property in the last three months of 2024.

According to the Building Society, the average house price in Wales is flat year-on and is now £ 233,194.

Tom Williams and his family, who live in Lancashire, are struggling to sell the other house that they are in Marfin Nephin, Guvined.

“I have four grandchildren who had a wonderful time every summer and it has been great, we have loved it,” Mr. Williams said, who has owned home for 20 years.

Mr. Williams and his wife kept the house in the market in April 2024, but said they received very little interest from potential buyers, despite the price of £ 40,000 fell.

He said, “I put it down for all other properties in the village which are ready for sale at this time,” he said.

Mr. Williams believes that some interventions of the local council have inspired many people to sell, while also closed to potential buyers.

Cyngor GwynedD is trying to address the lack of housing for local people in tourist areas and has doubled the tax fee of the council at second and holiday homes.

Council also introduced recently Article 4For which property owners need to obtain a plan to convert residential houses into another or holiday houses.

“I have talked to many families who have houses there for generations and they are saying the same thing – how can we move forward with it?” Mr. Williams said.

North East Wales Estate Agent Daffidy Hardy described the housing market in Guended as “mixed”, leading to “more properties coming in the market” with local intervention on other homes.

But he said that the price of another house was often “out of the strength of the local buyer”.

“What we need to see is the balance in the market,” he said, “More House Building as far as buyers are concerned”.

According to the Wales House Price Index, Pambrookshire saw the second largest annual fall in prices of 8.9%. The council there recently voted Council reduce tax premium 200% to 150% in other homes.

Comparatively, Carambarthanshire saw the biggest year-to-year growth of home prices of 9.2%. The council is presenting a 100% council tax premium at other houses since April.

Ian Mansfield of Principal Building Society said that the housing market in Wales had shown “flexibility” in the last 12 months.

Sales increased from 28% year-on-year, which Mr. Manfield said that “more consumer trust” was performed with low interest rates, making the hostage more cheap.

“I think we are seeing more positive attitude for those who want to buy a house in 2025,” said Mr. Mansfield.

Mr. Mansfield said that the “large” fall in prices in GwynedD has been reflected in some other coastal areas of Wales “in the last 12 months.

He said that the drop can be explained by “potentially” by some interventions that are made in the area around the ownership of another home “.

Cyngor GwynedD stated that “the price of more than 65% GwynedD population was outside the housing market” and dealing with housing lack was a “major priority”.

The council stated that it introduced Article 4 to “gain better control over the existing housing stock” and “they were constantly monitoring its effects”.

He said that some funds raised by the Council Tax Premium were used to manufacture houses supported for the development of new homes, homeless and grants and loans, which local people to the locals of many other projects. To help secure the beach housing “.