With proposed reforms to the private rented sector (PRS) on the horizon in Wales, along with a raft of changes designed to curb second home ownership and limit short-term letting, Propertymark’s new working group will look to propose workable incentives that the Welsh Government could offer to boost and sustain investment.

At a recent meeting with the minister for climate change, Julie James, Propertymark’s proposals of formulating a Working Group of industry experts, agents, landlords and stakeholders in response to the Welsh G]government’s Local Government and Housing Committee’s report on Second Homes was gratefully received.

The report committed to working with private sector landlords and letting agents within the Dwyfor pilot area to increase the supply of homes for rent.

Daryl McIntosh, policy manager at Propertymark, said: “Our conversations with the Welsh Government have been welcomed and it is good to see that they are willing to work with the sector in order to ensure that future policy is fit for purpose for all those involved.

“The Welsh government has largely focussed on planning policy and local taxes as levers to change behaviour in the private rented sector, however, these do not directly deal with the barriers and disincentives to investment in the private rented sector.

“Our working group will now look to develop clear, targeted proposals on what action is necessary to ensure that policy both supports and incentivises investment to then be tested through the Dwyfor pilot.”