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This report has been produced by the Wales Tourism Alliance (WTA) in association with Propertymark—acting in an independent role—for submission to Jayne Bryant MS, the Housing Cabinet Secretary. It formed the discussion at the roundtable meeting in Cardiff on 12 November 2024.
Cabinet Secretary for Finance, Mark Drakeford, MS, has published the Welsh Government's Budget for 2025-26. Propertymark is disappointed that Land Transaction Tax (LTT) for additional properties has increased by 1%, but it is encouraging that the Welsh Government has listened to our call for fair funding for local authorities.
In response to the Welsh Government’s call for evidence, Propertymark has shared members’ views on the impact of the legislation on their operations and business practices. We recognise that Rent Smart Wales (RSW) has achieved some progress in regulating and improving the private rental sector (PRS) and have made specific recommendations for how the Senedd can build on this going forward.
Our Head of Policy and Campaigns, Timothy Douglas, gave evidence to the Local Government and Housing Committee inquiry into the private rented sector (PRS) in Wales, urging them to learn lessons from the impact in Scotland and elaborating on key measures which were contained in Propertymark’s written evidence, such as a review of taxation, improved data collection, and a clear strategic plan to positively move the sector forward.