RICS welcomes new Welsh Government and First Minister Rhun ap Iorwerth

RICS congratulates Rhun ap Iorwerth and Plaid Cymru on their election victory in Wales, marking a significant political moment as the party prepares to lead the Welsh Government.

RICS looks forward to continuing its longstanding and constructive relationship with government and the 96 Senedd members, most of whom are new to the parliament.

The election result represents an important opportunity to build on shared priorities between government and industry. RICS welcomes the early focus set out in Plaid Cymru’s manifesto, particularly its emphasis on increasing housing supply, accelerating low-carbon energy infrastructure, reforming business rates, and supporting long-term, sustainable economic growth across Wales.

A shared agenda for the built and natural environment

The built and natural environment plays a central role to the Welsh economy, contributing over £17bn in economic activity and supporting jobs, supply chains and regional development. However, the sector faces a number of pressing challenges, including housing shortages, ageing housing stock, planning delays, skills gaps and increasing building safety requirements.

Against this backdrop, Plaid Cymru’s manifesto going into the election highlighted several areas where collaboration with industry will be essential to deliver meaningful progress.

Housing delivery and investment

Plaid Cymru has committed to delivering at least 20,000 new social homes by 2030, supported by improved data collection through the introduction of a new Welsh Housing Survey. This aligns with RICS’ longstanding call for better data to inform housing need and delivery, reflecting best practice seen in England.

Proposals to review energy efficiency requirements and explore the use of Welsh pension funds to support housing investment could also play an important role in unlocking supply, provided they are implemented alongside a clear and stable delivery framework.

Retrofitting, standards and building safety

The party has placed a strong emphasis on improving standards and professionalism in retrofit, including new quality assurance processes, strengthened oversight, and mandatory independent assessments for publicly funded schemes.

These measures, alongside commitments to accelerate remediation of unsafe cladding and defects, reflect the growing importance of safety, quality and accountability in the built environment. RICS has consistently highlighted the need for robust standards and skills development in retrofit to ensure that decarbonisation efforts deliver safe, high-quality outcomes.

Skills and workforce development

Addressing skills shortages will be critical to achieving the Welsh Government’s ambitions. Plaid Cymru’s proposals to accelerate sustainability skills pathways and invest in workforce development are welcome steps toward building the capacity needed to deliver housing, infrastructure and energy projects at scale.

RICS continues to advocate for increased investment in education, apprenticeships and professional development to ensure that Wales has the skilled workforce required to meet future demand.

Property taxation and economic reform

Plaid Cymru has signalled its intention to pursue comprehensive Council Tax reform and rebalance business rates to better reflect changing economic conditions, particularly between high streets and out-of-town locations.

For property professionals and businesses, these reforms could have significant implications, and RICS will work closely with government to ensure that changes support fair, transparent and efficient property markets.

Infrastructure, energy and economic governance

The manifesto also includes proposals to strengthen economic governance through a new Fiscal and Economic Commission and a National Development Agency for Wales, alongside plans to improve energy and water infrastructure.

Commitments to community ownership in energy projects and a renewed focus on grid and infrastructure capacity will be key to enabling Wales’ transition to a low-carbon economy. RICS has previously highlighted how constraints in grid capacity are already acting as a barrier to housing and renewable energy development, underscoring the importance of timely investment and reform.

Building confidence and delivering growth

Recent RICS data has shown that confidence across Wales’ built environment has become increasingly fragile. However, with the right policy framework and collaboration between government and industry, there is a clear opportunity to stimulate a new era of investment, growth and resilience.

Many of the priorities identified by Plaid Cymru, including housing delivery, infrastructure investment, skills development and market reform, closely align with the recommendations set out in the RICS Wales Manifesto 2026. These shared priorities provide a strong foundation for partnership working.

Working in partnership

RICS and its members stand ready to support the new Welsh Government with the technical expertise, professional standards and data-driven insight needed to deliver its ambitions.

From accelerating housing supply and improving building safety to enabling low-carbon infrastructure and supporting resilient local economies, surveyors and built environment professionals will play a critical role in shaping Wales future.

RICS looks forward to working constructively with Rhun ap Iorwerth and the new Plaid Cymru-led Welsh Government to turn these ambitions into tangible outcomes for communities, businesses and the wider economy across Wales.