Newport-based Red Key Property Services has appointed Karl O’Dare as area manager, covering the company’s current territory between Newport and Swansea.

The role is a new one within the company and the appointment marks the first phase of ambitious expansion plans to add three additional branches.

The first new branch – in Cardiff Bay – has just opened, and the second, in Swansea’s SA1, is planned for later this month.

Karl, who is 34 and lives in Newport, has spent more than ten years in the property sector having held senior posts in several other major property agencies in South Wales.

He said: “There’s no question that demand for rented property is going to continue expanding and we plan to be part of that growth by opening up new branches in key locations. Being ‘on the ground’ is an essential factor in knowing your market and offering a first class service to landlords and tenants.”

The company’s MD Jamie Langley said: “The market is in an interesting place at the moment with demand for rented properties outstripping supply. The upcoming changes in how the tax regime treats buy-to-let owners may well negatively impact on that as well.

“The continuing growth in demand has made Wales a very good place to be a landlord, with typical returns on investment around the five per cent mark.

“Despite that, there are more than 20,000 ‘empty homes’ in Wales which could not only be providing much needed homes but also earning their owners a secure income. Part of our marketing effort going forward will be to persuade owners to make those properties available.”