THE HERALD FRIDAY FEBRUARY 10 2017
41 Business
committed to economic development in the area. They will identify key sectors on which the Rural Development Plan should focus, and make the case for the proposals within the plan to be enacted by Welsh Government. She added, “I have already
discussed this matter with the First Minister Carwyn Jones, the Economy Secretary Ken Skates, and the Rural Development Secretary Leslie Griffiths. They are all interested to hear what progress we can make on this matter.” The group has invited the Economy
A LABOUR AM has called on
the Welsh Government to develop an economic plan specifically for rural Wales. Mid and West AM Eluned Morgan’s
THE NUMBER of people buying their first home in December reached its highest point in 15 years as a result of the favourable conditions currently available to first-time buyers. New figures from the National
Association of Estate Agents (NAEA) show first-time buyers were responsible for 32 per cent of property purchases in the final month of 2016, up by ten per cent on the previous month and the highest number in any December since 2001. Kevin Shaw, national sales
director at property specialist Leaders, said: “The combination of low-cost mortgages and a period of stability in house prices has made it more affordable for people to get on the ladder than it has been for some time. “It is fantastic to see so many
people in a position to buy their first home. In fact, first-time buyers returning to the market in such large numbers is great news for everybody, including those who already own their
home and are looking to sell and move up the ladder.” Despite the rising number of first-
time buyers, there was still a fall in the amount of property sales agreed in December. The NAEA study also found there was a 12 per cent month- on-month increase in the average number of people registering as buyers with estate agents. Mr Shaw added: “More buyers but
fewer sales agreed underlines the fact that only a lack of supply is holding the market back right now. Pent-up demand remains, giving sellers an opportunity to take advantage of less competition to get a great price. “I believe a further benefit of the
rise in first-time buyers will be a boost to confidence levels in the market and this should encourage more sellers to put their homes on the market over the coming months. “With such high demand, sellers
have nothing to lose by making their property available as they can feel sure of achieving a great selling price.”
remarks were backed by key business players in rural Wales who have a track record of delivery. The group which met in Trinity
College said: “Whilst the City Region model may work in parts of Wales it is not a model that is relevant or suitable for vast areas of rural Wales.” The group has suggested that there
is an urgency to develop such a plan following the Brexit vote. They have argued that the impact of Brexit on the rural economy is likely to be greater than elsewhere in Wales as European funding is withdrawn. Ms Morgan said: “I am delighted
that a range of accomplished individuals have agreed to work towards presenting the Welsh Government with the broad structure of a plan. We will then encourage the Government to elaborate on this by preparing specific and measurable targets. “The economic challenges for rural
Wales are many and varied. These include low productivity rates, low paid jobs, a low skills base, transport and IT infrastructure weaknesses, a lack
of affordable homes, and an ageing population. Due to a lack of varied employment opportunities there is a loss of many of our brightest people who feel they need to leave in order to find work. In order to build a balanced and more sustainable economy these are just some of the issues that need to be addressed. “The group agreed that insecurity
in terms of the long term future of agriculture – an important sector for rural Wales following the Brexit vote, suggests that we need to start preparing now for a new approach which focuses on added value and broadens the debate to include the wider food and drink industry. In addition to this we must work to enhance the quality of the tourism offer and take advantage of the low pound to attract new visitors to the area.
“Many sectors have received
economic support through European Funding initiatives over the years. The loss of this additional support will have longer term impacts if it is not replaced”. The group will endeavour not to
re-invent the wheel and not to duplicate work already underway by the Welsh Government, local authorities, the City Region and other organisations
Secretary Ken Skates to attend a meeting where he will be presented with the plan in April this year. Ms Morgan has also sent a questionnaire to all town and community councils in Mid and West Wales to gauge their views on Economic Development in Mid and West Wales. These will be fed into the deliberations of the group. Paul Davies AM, Welsh Conservative Shadow Secretary for Rural Affairs, calls on the Welsh Government to develop an economic strategy that addresses current challenges and meets future opportunities. Mr Davies said: “When it comes
to addressing the needs of our rural heartlands, the Welsh Labour administration have a long legacy of ignorance and neglect. “Under their governance, the
average income of farmers has plummeted by a quarter in the last year; the price of milk has fallen to new lows; and seven rural pubs go to the wall every week. “The Cabinet Secretary for Rural
Affairs must work with farmers and business leaders to develop a comprehensive strategy that puts the rural economy on the best possible footing to prevail against these challenges and embraces the opportunities that lie ahead following our departure from the EU.”
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