Local homeowners are worried that Gwyned Council will rapidly fall over the value of their homes as a result of an aggressive taxation on second homes and holiday rentals, and the entire property sector should be warned, according to Propertymark.
The housing situation in the area is said to be “critical”, with over 65% of the local population getting prices from the market. It has been even worse in highly desirable areas, such as the Llŷn Peninsula, with median home prices rising above £400,000 and affordable to 96% of locals. 
In response, local governments have used their new authority to raise the premium tax rate on the second home, raise the short-term LET (STLS) by 150%, implement the directions of Article 4, remove the permitted development rights and change the main home to a second home or short-term holiday accommodation.
Semi-detached houses have fallen by 21%
As a result, data from the Public Building Association shows that average home prices fell 12.4% in Gwyned in the fourth quarter of 2024. This is well above the average of 0.4% for the rest of Wales. And the prices of typical semi-detached homes in the county fell another 21%.
For existing homeowners, the waterfalls are amazing, saying that the average salary in Wales is £34,303 and the average home price is £221,330, but many people are still priced.
Industry groups recognize the issue, frequently highlighting the large growth of the short-term retch sector, raising concerns about the impact on the affordability and supply of private rents and owner-occupied housing.
Precautions are better
However, it argues that prevention was superior to “treatment,” and encourages governments and local governments to carefully consider the impact of policies that call for areas of competition for short-term permits, which are seeking levels of regulatory and tax competitiveness between short-term and long-term Lets.
