In our consultation response, we urged the Welsh Government to reconsider plans to scrap the tax relief, citing the potential for loss of homes and the disproportionate impact on vulnerable tenants. Welsh Finance Secretary Mark Drakeford, MS, has now confirmed that The Land Transaction Tax (Modification of Relief for Acquisitions Involving Multiple Dwellings) (Wales) Regulations 2025, which will take effect on 7 February 2025, will change the rules for tax relief but not abolish it.

Barking and Dagenham Council is set to implement a borough-wide selective licensing scheme, requiring all private rental properties to be licensed from 6 April 2025. The scheme is among the first to leverage a law change introduced by Housing Secretary Angela Rayner at the end of 2024, allowing councils to establish larger licensing schemes without seeking central government approval.

The Welsh Government’s response to the Local Government and Housing Committee's report on the Private Rented Sector (PRS) demonstrates alignment with Propertymark on key areas, such as the importance of the sector, the need for better data, and support for landlords and tenants.

Although we see key aspects of the economy stabilise, the commercial property sector continues to face challenges, as many business sectors evolve to keep pace with ever-progressing trends and shifts in demand. 

A recent auction has sent waves of excitement through the world of memorabilia collectors, with items from the legendary British comedian Eric Morecambe achieving record-breaking prices and highlighting the pivotal role of professional auctioneers in accurately valuing, presenting and selling these unique cultural artefacts.

August tends to be one of the quieter months in the auction calendar, however September’s figures demonstrated an extremely positive response, with a nearly 10% increase in lots offered and sold across the UK. As the economy continues to stabilise, it is fantastic to see members report strong demand and growth in performance.

Trading in ivory from the common hippopotamus, killer whale, narwhal and sperm whale will now be banned under The Ivory Act 2018 (Meaning of “Ivory” and Miscellaneous Amendments) Regulations 2025. The new legislation was originally laid in parliament in May 2023, under the previous UK Government, but implementation has been delayed due to a lack of parliamentary time.

The Welsh Government has recently concluded a public consultation on proposed amendments to Part B (Fire Safety) of the Building Regulations, resulting in significant changes that will impact sales and letting agents and building managers. Since 2021, several changes relating to the design and construction phase have already been brought forward, and a Building Safety (Wales) Bill will be introduced before the end of the current Senedd term setting out how building safety should be managed once a building is occupied.

2024 marked a remarkable year for Propertymark, as the organisation made significant strides in raising its profile, engaging stakeholders, and shaping policy discussions. This year’s achievements are a testament to the collective efforts of our team, members, and partners. Together, we have raised the bar, set new benchmarks and solidified our position as the leading voice in the property industry.

Propertymark has submitted a comprehensive response to the Welsh Government’s consultation on electric vehicle (EV) charging requirements and written to Baroness Taylor to highlight the need for balanced support across the UK. While welcoming efforts to reduce carbon emissions, we raised concerns about cost, feasibility, and the broader impacts on the housing market.

The next few months are likely to prove busy for the sales market, with stock coming to the market and consumers showing they are keen to stay ahead of Stamp Duty threshold changes due in England and Northern Ireland in April 2025. The lettings market remains extremely challenging, with long-running issues regarding an intense lack of rental stock across the UK.

A product of our ongoing and successful partnership, the extensive fact sheet helps property agents in Wales understand new rules and how they impact freeholders, leaseholders, renters, home buyers and sellers. Whilst a number of provisions under the Building Safety Act 2022 apply to Wales, the Welsh Government is establishing its own Building Safety Regime that reflects its plans to ensure the safety of residents in Wales.

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.

The Ministry of Housing, Communities and Local Government (MHCLG) and the Welsh Government seek agents’ views on proposals to limit the building insurance charges that freeholders, property managing agents and landlords can ask leaseholders to pay. There are long-standing concerns about unjustified and unfair fees which leaseholders are unable to properly scrutinise and challenge.

Damp and mould are more than an unsightly nuisance; they pose serious health risks, especially for children, older adults, and people with respiratory issues. The tragic story of two-year-old Awaab Ishak, who suffered prolonged exposure to mould, highlighted the need for immediate action and lasting change. This resulted in the introduction of Awaab’s Law for the social housing sector, which will soon be mirrored in the private rented sector through the Renters’ Rights Bill.

The UK Government has unveiled plans to reform the Energy Performance of Buildings (EPB) framework in England and Wales, with sweeping changes to the way Energy Performance Certificates (EPCs) are structured, used, and valued. Both commercial and residential agents, landlords, and property owners will need to renew their EPCs more often, and some exemptions, for example for heritage properties, may no longer apply.