Higher Rate Houses

Part of 1. Questions to the Minister for Finance and Trefnydd – in the Senedd at 2:10 pm on 21 October 2020.

Alert me about debates like this

Photo of Rebecca Evans Rebecca Evans Labour 2:10, 21 October 2020

I'm grateful to Llyr Gruffydd for raising this particular issue, and I know that we have a meeting coming up shortly as well in which we can have the opportunity to talk about land transaction tax, but also the wider issue of second homes, because I know it's an issue of serious concern to many people.

Llyr is absolutely right in the sense that you cannot read or that there is huge difficulty in interpreting the data as we have it, in terms of land transaction tax and that higher rate, because it does include people who are bridging from one home to another—so, selling their main home to move into another main home, but there's a period in between moving into the second and selling the first, if you like—and as was also mentioned, it includes those properties that are bought by residential landlords, which I'm sure would be something that many of us would be very supportive of. And, equally, the data doesn't show the land that churns the other way, so those properties that were previously buy-to-lets, which are now being bought as main properties as well. But when we have that meeting, I think it would be an opportunity for us to discuss, in more depth, to what extent we can get better data, really, in order for us to understand what's happening behind those figures. But I look forward to that conversation.