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.
Developers have been informed by James Brokenshire, the Housing Secretary, that they need to be doing more to protect the British wildlife.
Using systems like hedgehog highways, hollow swift bricks, and creating drainage areas to create wetlands for bird and amphibians, the government has set out new guidelines explaining how developers should be protecting certain British species.
Developers should be taking into consideration the long-term impact their developments will have on ecosystems, both throughout and post construction, says the government.
A think tank has said that construction has not yet begun on 2,700 hectares of land in London that has planning permission.
Additionally, the report “Meanwhile, In London: Making Use of London’s Empty Spaces by the Centre for London” stated that in London there are currently 24,400 empty commercial properties, 22,500 of which have been empty for minimum of 6 months.
This is enough empty space to accommodate 160,000 to 200,000 workers.
Around 3,000 homes at Fairham Pastures have granted outline planning permission by councilors on Rushcliffe Borough Council’s planning committee.
The site, situated south of Clifton, has been acknowledged in Rushcliffe Borough Council’s Local Plan, in which it outlines that over the coming decade, a requirement of 13,500 homes are to be delivered in the borough.
100,000 square meters of employment land are additionally included in the application, which could;
A surprisingly high amount of councils does not have a 5-year housing supply in the South East and East.
If a local authority cannot provide a 5-year housing supply, the presumption is in favour of any development applications, regardless if the land is green belt, an Area of Outstanding Natural Beauty or even a National Park.
Put simply the benefit outweighs the harm caused by an under supply.