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Support for self-build needed to boost new homes, according to new research from Ipswich Building Society

Added: 28 April 2016

Support for self-build needed to boost new homes, according to new research from Ipswich Building Society

New research by Ipswich Building Society and the National Custom and Self Build Association (NaCSBA) has found 1 in 5 (19%) people in the UK believe there would be increased public support for the building of new homes if self or custom build properties contributed to a greater proportion of those built.

Despite the Self-Build and Custom Housebuilding Act (also known as the Right to Build Act) coming into force on 1st April 2016, more than three quarters (77%) of people in the UK are unaware councils are now required to keep a register of those looking to buy land in the local area to carry out self or custom build projects.  The registers will work alongside measures due to come into force in the upcoming Housing and Planning Bill, which will require authorities to ensure they have sufficient permissioned plots to match the local demand on their register.

Findings revealed 1 in 8 people (12%) expect to show an interest in self build property within the next year.  This figure has remained constant since the annual survey was launched in 2013.
However, just 1 in 50 (2%) people stated their intention to take specific actions to progress their self-build projects, such as purchasing land, submitting a planning application or starting construction, within the next 12 months.  

Paul Winter, CEO of Ipswich Building Society, commented, “At a time when much of the UK is experiencing a housing shortage, more needs to be done to raise awareness of this new legislation and encourage those looking for a new home to consider undertaking self and custom build projects. Due to the complex nature of a self-build project, those seeking these specialist mortgages are advised to research the market and seek out a provider, and product, that best suits their individual needs and circumstances."

NaCSBA Chairman, Michael Holmes, said:  “The success of the Right to Build Policy initiative, and the delivery of land to meet the huge pent up demand, depends on the registers. The research shows that 77% of people aren’t aware of the registers, nor what their success means to creating better new homes – this figure needs to change. NaCSBA is working hard to raise the public profile and support councils across the country to ensure that they have the correct measures in place. Currently, only 35% of LPAs have adopted a register and our aim is to get this to 100%.”

Raymond Connor, CEO of BuildStore, commented, “The research shows there is a significant gap between those interested in self-build and those who intend to take specific action to progress self-build projects.  However, it is likely this sector will soon grow once more people are aware the main challenge of finding a suitable plot of land has now been simplified.  This is thanks to the new Right to Build legislation, which is both innovative and unique in Western Europe.  It’s an exciting time to be involved in self build, and we’re looking forward to working with local authorities, landowners and lenders to enable more people to exercise their Right to Build.”

 

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