Third of enquiries for Welsh homes under £100,000 linked to second homes or buy-to-let

Nation.Cymru staff

More than a third of purchase enquiries for Welsh properties priced below £100,000 were for second homes or buy-to-let, according to figures from a conveyancing comparison service.

The analysis found that 137 of 401 enquiries in that price bracket – 34.2% – concerned an additional property, compared with 25.6% across the UK.

Compare My Move, which compiled the figures, said the proportion reached 43.8% in the SA postcode area, covering Swansea and parts of south and west Wales. That represented 46 of 105 enquiries.

The company analysed unique conveyancing purchase enquiries submitted between January 1, 2022, and May 31, 2026. It confirmed that the geographical breakdown refers to the location of the property, rather than where the prospective buyer lives.

The figures record buying intentions among users of its service, rather than completed sales, and should not be read as the proportion of all homes bought for those purposes. Second homes and buy-to-let properties are recorded together, so the data cannot distinguish between prospective landlords and buyers seeking another home for their own use.

Dave Sayce, founder and managing director of Compare My Move, said the findings raised questions about competition for lower-priced homes.

“For many Welsh first-time buyers, properties below £100,000 offer a more accessible route onto the property ladder, particularly for those with smaller deposits or limited mortgage budgets,” he said.

“Our data shows that this price bracket also attracts a high proportion of second-home and buy-to-let enquiries. This means first-time buyers may find themselves competing not just with others trying to get onto the property ladder, but also with those looking to purchase an additional property.”

Across Wales, the proportion of additional-property enquiries dropped sharply in higher price brackets.

For properties between £100,000 and £200,000, it was 12.9%, below the UK figure of 15.5%. Between £200,000 and £300,000, it fell to 9.2%, compared with 10.7% across the UK.

Second homes

Across all prices, 571 of 4,025 Welsh property enquiries – 14.2% – concerned second homes or buy-to-let, almost identical to the UK figure of 14.1%.

The contrast was therefore concentrated at the cheapest end of the Welsh market, rather than reflecting a higher proportion of additional-property enquiries overall.

In the SA area, 137 of 720 enquiries across all prices concerned an additional property, representing 19%.

The proportion was 13% for homes between £100,000 and £200,000 and 16.9% for those between £200,000 and £300,000.

The analysis does not establish what effect the enquiries had on prices or whether prospective additional-property buyers ultimately competed with first-time buyers for the same homes.

Mr Sayce added: “While second-home taxes are designed to address housing pressures, the real measure of success is whether local people have better opportunities to find and purchase homes they can afford.”