The Land Transaction Tax Holiday

Part of 1. Questions to the Minister for Finance and Trefnydd – in the Senedd at 2:05 pm on 25 November 2020.

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Photo of Hefin David Hefin David Labour 2:05, 25 November 2020

A report earlier this month by Halifax revealed that the average UK house price is now £250,000. This came on top of a report last month by Nationwide that found that UK house prices were rising at their fastest rate for five years, and this has been partly attributed to a rush to buy ahead of the end of England's stamp duty holiday next spring, whereas in Wales we've adopted a much fairer and more progressive approach through the land transaction tax, which better reflects the nature of our housing market. Can the Minister confirm today, with that in mind, as we approach the end of the LTT holiday here in Wales, that the Welsh Government will set out its plans to engage with key stakeholders throughout the process to avoid an increase in prices that would put pressure on affordable housing in the northern areas of the constituency that I represent?