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January property market - WWPF thoughts & predictions


As January ticks towards a close, the evenings are starting to open up ever so slightly - and despite storms, snow and high winds the market has shown a significant upswing in the first four weeks of the year. Sellers and buyers who had held off making any decisions until the full impact of the late November budget had worked its way into the property sector are now taking action. Rightmove research indicates buoyant instruction levels across the county, reflecting the optimism of sellers and buyers.


This factor, combined with the lowering of interest rates has put major impetus into the local market.  Houses that have been on the market for several months are now selling and in some key areas there are multiple buyers chasing the current stock.


One of the most marked effects is the announcement of the two-million-pound property asset tax in England.  Whilst this may be replicated in Wales in due course, it is likely that its implementation will encourage higher end buyers to look to Wales where there is much greater value for money. Currently this “mansion tax” does not exist in Wales with its devolved legislation


An additional factor will be the reduction in the second home tax in Pembrokeshire from 200% to 125%.  With this second home tax being widely introduced in England, we are anticipating many more second home buyers will return to the West Wales market where opportunities remain strong to secure a coastal or rural family retreat, investment opportunity or business proposition. Second home hotspots such as Newport, Tenby and Solva are all demonstrating strong demand with multiple buyers targeting high-quality properties.


These factors are likely to impact property prices and we at WWPF predict prices in West Wales will rise between 3-4% in 2026 with most gains being in the mid to top end of the market.


Pembrokeshire offers many opportunities for those looking to build a life here, especially given post pandemic changes in working practices, improvements to internet services in the county and a focus on transport infrastructure with the newly opened A40 road improvements to Haverfordwest and consistent rail links to Cardiff, Bristol and London. When this is combined with the thriving independent business scene offering opportunities across many areas, Pembrokeshire really can be seen as a destination that provides great opportunities to buyers, in terms of value and variety of homes on offer. Tourism continues to be a major part of Pembrokeshire life and the opportunity to purchase a second home and/or investment option remains a sector of the market that we predict to build momentum again, especially with the reductions in the second home council tax


WWPF’s “raison d’etre” is connecting buyers with their ideal property, and a high proportion of our work is centred on using our extensive network of local connections and knowledge to identify off-market opportunities that would never normally hit the open market. This, combined with our subsequent management of transactions through to legal exchange of contracts yields a far lower “fall-through” rate than is seen in the general conveyancing arena. We offer a preview option to save you time travelling to view a property you may have seen, and a full retained property search service. Our little black book of contacts will also help you with queries as diverse as planning to curtain makers, architects to cleaners.


For more information call Emma Salmon - 07736 042516







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