Many industries are experiencing a lull in this poor economic climate, and none more so than the property market. Those wanting to buy are put off by the overall cost, choosing instead to stay put and continue saving. Similarly those wanting to sell are biding their time until prices take an upturn. After all, no one wants to make a loss when selling a home.
The overall effect is that the property market is slow, verging on static. When this has happened in the past (the 1970s slump being a classic example), people have traditionally looked to extend their property rather than move. It makes sense; if you can’t upsize to another house, you may as well spend the money you have saved and make your own property larger.
However, previously, extending your home has been something of a headache. Reams of red tape and bureaucracy stood in the way of you and a 4 metre extension. The mountains of paperwork, prolonged delays and appeasement tactics with planning officers has, understandably, put many people off.
But all this could be about to change with the introduction of the Permitted Development Rights, unveiled by the Government at the beginning of September. The proposals suggest a three year ‘relaxation’ period during which people will be allowed to build larger extensions without planning permission. Currently those wanting to extend their home by three metres do not need consent; under the new scheme this will increase to six metres for all householders, and up to eight metres for detached properties.
Prime Minister David Cameron said he believed “getting the planners off our backs” would boost house-building, revive the construction industry and help kick-start the economy. The changes have met with a barrage of criticism from countryside campaigners, while Ed Miliband, leader of the Labour Party, has expressed concern saying that revising the rules on conservatory extensions “is not an economic plan”. Whatever your take on the idea, one thing is for certain, if you are thinking about extending your home, now could be the time to do it.
If you have any planning or property law questions, please call us on 01772 424 999 or complete our contact form below and we will be delighted to help you (there is no charge for initial telephone discussions).
