In the last few weeks new plans have been unveiled to extend council house tenants right to buy and to help first-time buyers.
ITV Wales’ award-winning current affairs programme ‘Wales This Week’ is investigating the state of the Welsh housing market.
This week the programme, which is presented by Jonathan Hill, asks what’s being done in Wales to help people get on the property ladder and talks to new home-owners in Aberdare and Cwmfelinfach who have been given a leg up.
It also counts down the five cheapest and most expensive streets, meeting people living on the Fernhill estate, Mountain Ash, and taking a tour of a £2m house which is due to go on the market in January. An estate agent explains why he predicts a quick sale.
There are also forecasts for 2012. With the Eurozone crisis having a continuing effect on people’s confidence and willingness to commit to a house move, what hope is there for those trying to sell and what is going to happen to house prices?
One expert tells the programme: “To be completely frank in the context of the European situation at the moment our forecasters have revised their forecast for next year.”
But the programme also asks whether property prices matter and whether property booms help or hinder the economy.
One mortgage analyst explains: “People like stability, and escalating house prices might be good for communities who are in home ownership and seeing that equity rise – but is that a sustainable position? Actually stability is a much more important tenet. On one side people would be concerned if house prices were to fall, but nevertheless a high escalation in house prices is not necessarily where the economy needs to go.”
Wales This Week, 7.30pm Tuesday, December 6, ITV Wales