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.
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.
For anyone involved in buying or selling a property, the risk of local development is important to understand. Property development can impact local infrastructure, the aesthetics of an area, views, traffic volume and of course, property value.
This impact isn’t always a negative, although we tend to be opposed to local development than for it! Disused buildings can quickly become eyesores and a magnet for anti-social behaviour. Developing these plots can have a hugely positive impact on an area, so understanding just what is planned and what has potential for planning in our neighbourhood is key.
Better the devil you know
How likely are you or your clients to be affected by property development?
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.