Happy New Year, we just wish it was under happier circumstances than from within the depths of our third national lockdown!
You know how the saying goes, if it looks too good to be true, it usually is. We’ve become aware of many buyers falling victim to false advertising for land sales, and want to help you and your clients avoid suffering the same disappointment and wasted investment.
Running for the hills
The rotation of restrictions, lockdowns, homeschooling, home working and a craving for outside space, combined with the changes to stamp duty led many buyers to the property market in 2020. Whether ditching the city, the suburbs or a home that just didn’t feel fit for purpose anymore, buyers were keen to change things up and bag themselves a slice of the countryside.
Many of those buyers were and still are looking for a more rural outlook, and have been seduced by tantalising offers of land with development potential. It’s easy to see why. What a wonderful idea, swap the flat in Streatham and embark on your own seemingly affordable Grand Design. Unfortunately, some landowners seeing the demand for rural locations and the urgency to escape the cities wasted no time in taking advantage of the situation.
DevAssist is presenting at the SafeMove’s Land & Property Event and we’d love for you to tune in.
This is a complimentary online event taking place on Wednesday 23 September 2020.
There are webinars running all day aimed at conveyancers, land and property developers, planners and designers. Leading industry influencers will deliver insights and knowledge through a series of short online presentations that are all free to access.
Robert Jenrick – the housing secretary, has committed £1.3 billion in a bid to create 45,000 new homes, 85,000 jobs, together with upgraded skills and infrastructure as the government boasts plans to aid the green economy recovery from Covid-19.
Over 300 projects in England are set to receive a portion of the £900 million Getting Building Fund.
This fund was announced in June by Prime Minister Boris Johnson, in an attempt to help kickstart “shovel-ready” housing and infrastructure projects.
Economically speaking, according to the government this investment is set to reduce CO2 emissions across England by around 65 million kilograms.
Earlier this month the Prime Minister announced changes to the planning system to aid the construction industry and wider economy in the aftermath of the pandemic. In addition, a review of government-owned land will look at how it can be managed more effectively. These changes are designed to mobilise the construction industry and help meet the widespread need for more housing.
Whilst regeneration schemes and more homes are much needed, changing the parameters around Permitted Development Rights to give developers and builders more freedom, will undoubtedly become a contentious issue.
DevAssist are proud members of the Property Codes Compliance Board (PCCB). The PCCB is an independent compliance body. Their primary role is to maintain a register of firms that choose to subscribe to the Search Code of Practice to independently monitor their compliance with the Code.
Why is this important? Are you purchasing a property or representing a client in the purchase of a property? Using a member of the PCCB ensures that the search firms you engage are held to a set of standards that serve the consumer.
With the global economy showing indications such as the largest plunge in share prices since the 2008 financial crisis, and China’s economy threatening to contract for the first time in decades, how will the Coronavirus effect the property market?
Housebuilders thus far have been only been slightly affected, with small dips in their share prices.
The below leading housebuilders have been trading lower since mid-February, with their shares;
Following the illegal extension to his property in Barking, without planning permission, a man has been fined £15,000.
Back in 2005, Laurence Hill applied for planning permission to build a first-floor rear extension to his property, which was refused by the council, and the Planning Inspectorate dismissed his subsequent appeal.
Despite this, 9 years later in 2014, planning enforcement officers discovered Hill had proceeded with the extension, and in February 2015, he was issued with an enforcement notice, stating the extension must be removed by June 2016.