Propertymark advocates for a budget that boosts housing and reduces empty properties.
- The Welsh Government’s largest funding settlement announced for 2025/26.
- Propertymark critiques current homelessness solutions and suggests innovative approaches.
- Tax incentives proposed to stimulate private rented housing supply.
- Expanding Help to Buy could benefit the Welsh housing market.
Propertymark has urged the Welsh Government to implement fiscal policies conducive to increasing the supply in the private rented sector and addressing vacant commercial properties. These measures, they argue, would invigorate Welsh communities and the broader housing market.
Following the announcement of a £21 billion settlement for 2025/26, the Welsh Government is poised to receive the largest funding allocation since devolution. Propertymark has taken this opportunity to stress the importance of adequate funding for local authorities, enabling them to meet new legislative demands and maintain property standards.
While welcoming the increased allocation to the Housing Support Grant, Propertymark presses for a more radical use of this fund. They believe that backing private landlords and their agents could significantly mitigate homelessness, an ongoing issue in Wales.
To boost the availability of private rented accommodations, Propertymark suggests that the Welsh Government should consider exempting new long-term rental properties from the four per cent Land Transaction Tax levied on additional homes. Additionally, they propose offering grants and interest-free loans to landlords for property decarbonisation, akin to support provided through the Green Homes Wales Scheme.
In a bid to enhance homeownership, Propertymark recommends extending the current Help to Buy scheme to cover both older properties and new-builds re-entering the market. The organisation also points to the potential benefits of adopting High Street Rental Auctions, a concept soon to be introduced in England, which would empower local authorities with the ability to lease long-vacant commercial properties.
These proposals, if embraced, could lead to significant improvements in Wales’s housing and economic landscape.
