Letters: Propertymark Response to Welsh Government Draft Budget

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Tim Thomas, Policy and Campaigns Officer at Propertymark, reacts to the revenue and capital spending plans announced by the Welsh Government for 2024 to 2025.

Sirs,

Propertymark is disappointed that Land Transaction Tax for additional properties has increased by 1 per cent. The investment in affordable and social homes is welcome, but until social housing supply keeps up with demand, we called for the surcharge on additional properties to be cut to stimulate supply in the private rented sector.

However, it is encouraging that the Welsh Government has listened to our call for fair funding for local authorities in Wales given the requirements of enforcing the Renting Homes (Wales) Act and proposed Building Safety Act. This increase in funds must be used for these additional legislative challenges for the housing sector.

Tim Thomas

Policy and Campaigns Officer,

Propertymark

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Staff Reporter

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