Propertymark has responded to the Welsh Government’s Draft Budget for 2024/25, welcoming the recognition of the need for more homes in Wales.
However, the organisation emphasises the necessity of revising tax policies that impact private landlords and property purchases, to foster a more supportive environment for housing demand.
The Welsh Government’s budget draft proposes increases in the homelessness prevention budget, maintains capital investment in homes, and continues support for the Welsh Building Safety Fund and the empty homes funding programme.
These measures indicate a commitment to addressing housing issues, but Propertymark suggests that more comprehensive policy changes are needed.
Timothy Douglas, head of policy and campaigns at Propertymark, said: “It is positive that the Welsh Government acknowledge that they want to ensure everyone in Wales has a decent place to call home and we need more homes.
“However, there is little mention in the draft budget about funding to help new homes to be built and whilst we strongly welcome the continuation of the empty homes funding programme, we would like to see the Welsh Government look again at tax policies on second homes and property to support agents and their landlords meet the demand from renters and more people can get on the housing ladder.”
