More people are opting to Self-Build
More people are opting to Self-Build. According to the specialist listing website PlotSearch, the demand for building plots continues to increase across the UK. And in January alone, 1000's of people subscribed, with over 55,000 now signed up to the Right to Build Register - all hoping to find land with potential to create their dream home.
2020 is set to be the year of commissioning self-build projects!
But why is this the case?
House price growth is at a 14-month high, as confidence surges back into the market following the general election. History shows self building will naturally rise when this happens.
2020 marks the first year local councils have had to show how they’re meeting demand for self build plots under the
Right to Build legislation – and the lessons learned will see even more viable building plots coming on to the market. However, A significant minority of local councils in England are resisting the will of the government by undermining the Right to Build registers, according to the National Custom and Self Build Association (NaCSBA).
Mortgage approvals are at their highest level in nearly five years, accompanied by competitively low mortgage rates – so now’s a great time to secure the finance you need and get your project started.
Government support for self build has never been stronger, with the recent Conservative manifesto pledging to make building your own home a normal, mainstream choice. This includes a possible Help to Buy equity loan scheme for self builders.
About the survey: NaCSBA issued a Freedom of Information request to all 327 English Planning Authorities on 1 November 2019 requesting details as to the operation of their registers and of the numbers of people and groups of people on their registers. Just under 80% of these have now responded.
The overall result has been extrapolated based on past years’ responses received, although NaCSBA continues to seek responses from those yet to reply.