Wales has empowered its councils to raise council tax significantly on second homes, aiming to address the local housing crisis caused by inflated property prices driven by second-home ownership. Recent reports highlight the negative impacts, including a decline in house prices and an exodus of owners. However, this policy's intent was to protect local communities, which have seen a reduction in young residents and cultural degradation. The Welsh government implemented reforms, including closing loopholes that allowed lower business rates for second-home owners, thus attempting to stabilize the housing market and preserve community integrity.
The changes have led to something of an exodus of some second-home owners, which reflects the success of the policy aimed to address housing issues.
In some parts of Cymru, second-home ownership reached alarming levels, with 23% in Beddgelert and up to 40% in Llanengan, threatening local communities.
Measures to curb second-home ownership included allowing councils to increase council tax on second homes to 300%, drastically impacting the property market.
The impact of second-home ownership extends beyond economics; it threatens the Welsh language and community cohesion, leading to pub closures and school shutdowns.
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