Gwynedd becoming UK’s second-fastest growing housing market says property inspection firm
Gwynedd is becoming the UK’s second-fastest-growing housing market, according to a firm that develops software to track property inspections.
Property Inspect said that the number of home inspections – carried own by potential owners before they buy a property – has surged 394.37% in Gwynedd since 2020.
That compared with only a 11.62% rise across the UK as a whole. Gwynedd was only second to Stockport where the number of home inspections has risen 506.75% on last year.
Flintshire and Denbighshire were also in the top 15 for a rise in home inspections, with a 149.06% and 121.15% rise.
Warrick Swift, commercial director of Property Inspect, said that house inspections were typically conducted by a buyer before contracts are exchanged, and were therefore indicative of a booming or soon to be booming market.
“The UK’s property market has been skyrocketing throughout 2020 and 2021 following the initial pandemic lockdown when the market was closed,” he said.
“It’s unclear how the market will develop in the final few months of 2021, but it’s clear that the number of properties exchanged will continue to climb, surpassing exchanges carried out last year.”
The news comes as the Welsh Government is calling on public to have its say on local taxes on second homes and holiday lets.
Views are being sought on potential changes to local taxes which could be used by local authorities to tackle the effects that large numbers of second homes and commercial holiday lets can have in some parts of Wales.
Climate Change Minister Julie James said: “We cherish our reputation in Wales as a welcoming, bilingual society in which tourism and current second home owners have a contribution to make.
“However we also recognise the impact that higher numbers of second homes and self-catered holiday lets can have on local housing and rental markets and on the sustainability of local communities. In some areas they may compromise the sustainability of Welsh as a community language.”