Four times as many houses sold as second homes in Wales compared with UK average over last 12 months
More than four times as many houses sold in Wales were sold as second homes over the last 12 months as the UK average, new figures have revealed.
In Wales, 7.3% of houses were sold as second homes, compared with only 1.7% across the UK.
The percentage in Wales was also almost twice as high as the south west of England – another holiday home hotspot – where 4.4% of houses were sold as second homes.
The new figures by estate agents Hamptons suggest that the percentage of homes sold as second homes in Wales is far higher than elsewhere in the UK.
Separate research published by Hamptons in February suggested that the housing crisis was even more acute in some counties of Wales such as Anglesey and Gwynedd, where 31% and 27% of houses were sold as second homes.
It comes as the UK Government announced in the Queen’s Speech plans to grant local authorities the power to double council tax on second homes that are not let out.
The Welsh Government announced an increase to the maximum level of council tax premiums for second homes, as well as new local tax rules for holiday lets, last month.
The measures are part of a wider commitment to address the issue of second homes and unaffordable housing facing many communities in Wales, as set out in the Co-operation Agreement between the Welsh Government and Plaid Cymru.
As part of the changes, the maximum level at which local authorities can set council tax premiums on second homes and long-term empty properties will be increased to 300%, which will be effective from April 2023.
They are also looking at possible changes to land transaction tax (LTT) to allow local authorities to set a higher, additional rate in areas where they think there are too many second homes.
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