8 in 10 holiday lets could vanish

AS many as eight in 10 owners of holiday lets in Wales would consider pulling out of the market when a licensing system is brought in, a survey has found.

One industry expert believes some properties would then become second homes, while others would be put up for sale.

A UK-wide survey undertaken by OnePoll, on behalf of letting agency Finest Retreats, revealed the majority of current operators in Wales might quit to avoid the financial and administrative burden of licensing.

In South Wales, 86% of owners would think about ditching their holiday lets, while in the north, 73% felt the same. Both figures were above the UK average of 72%.

Sample sizes in the survey were relatively low and the results should be taken with a pinch of salt.

However, the findings mirror those of a survey of more than 1,500 businesses by the Wales Tourism Alliance. Of these, 84% of holiday let operators said they won’t be able to continue if a new 182-day lettings threshold is imposed. It has proposed 13 exemptions.

Richard Bond, owner of Finest Retreats, said a combination of regulation and additional taxation would have wider implications for regions reliant on domestic tourism.