Property investing event hosts discussion on ‘riding the holiday lets post Covid-19 wave’
A property investing event is hosting a panel discussion on “riding the holiday lets post Covid-19 wave”.
The discussion at the Property Investor Show, which is being held in London this week, has been branded as “the ugly face of capitalism” by the Plaid Cymru MS for Dwyfor Meirionnydd, Mabon ap Gwynfor.
The Senedd member hit out at what he called “big city spivs” and said the event is a “sign that the housing system is completely broken”.
He argued that wealthy investors “are able to swoop in and buy up what for them are cheap homes, denying them to local families who live and work here”.
The panel discussion is being hosted by Vanessa Warwick a former MTV presenter who is a full time residential landlord and is the co-founder of Property Tribes.
She will be joined by Liz Syms, the Chief Executive Officer and founder of Connect Mortgages, and by Jolene Clark, Regional Sales Director for Southern England at cottages.com.
On the Property Investor Show website it says that the Covid-19 pandemic has “significantly amplified the demand for UK holiday lets as international travel is highly restricted”.
It also highlights what it described as a “favourable tax environment”, the “increase in desirability of coastal property”, as well as a “raft of new holiday let mortgage products”.
Mr ap Gwynfor told Nation.Cymru: “This is the ugly face of capitalism in the UK now and it is a sign that the housing system is completely broken.
“People in big cities where house prices and wages are higher are able to swoop in and buy up what for them are cheap homes, denying them to local families who live and work here and will always contribute more economically and socially to these communities than a holiday home owner from a big city ever can.
“We need a thriving tourism sector in north Wales, but it must be for the benefit of local communities, that is holiday lets that do not take housing out of the reach of local people and businesses that see the money generated kept here in Wales.
“Properties here should be for the benefit of the people here and not to fatten the pension pot of some big city spivs.”
On the Property Investor Show website, it said: “It’s true to say that holiday lets were already enjoying a mini-boom pre-Covid due to the rise of the stay-cation trend. However, Covid19 has significantly amplified the demand for UK holiday lets as international travel is highly restricted.
“Combine that with the favourable tax environment, and the increase in desirability of coastal property, a raft of new holiday let mortgage products, and holiday lets are ticking boxes right, left, and centre, for investors.
“In this panel, hosted by holiday let landlord and Property Tribes co-founder, Vanessa Warwick, our contributors will discuss the benefits of holiday lets, and how to source, manage, and market one for maximum occupancy.
“This is a ‘must attend’ panel for anyone interested in holiday lettings or short term accommodation and there will be a chance to get your questions answered at the end.”
The Property Investor Show has been approached for a response.