How Wales's clampdown on second homes could do more harm than good [Yahoo! Finance]
RIGHTMOVE PLC UNSP/ADR (RTMVY)
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Source: Yahoo! Finance
Its county, Gwynedd, has one of the highest concentrations of second homes in the UK (41 per 1,000 homes in 2021) and comes second only to South Hams in Devon. In parts of the UK with significant numbers of second homes, there has often been tension between their owners and local residents. Second homes push property prices above what is affordable for working locals and can hollow out whole towns in low season. It has been 30 years since English-owned holiday homes in Wales were fire-bombed by a group called Meibion Glyndŵr in protest, but a (non-violent) battle to rein in the Welsh housing market has continued ever since. Yet Aberdyfi is unique in that its residents say locals and second homeowners have been coexisting quite happily for years. In fact, many of the local businesses say they would be forced to close without the custom of those with their main homes elsewhere. Now, the Welsh government's policies designed to deter second homeowners are forcing some to sell up
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