Custom-Built Homes to be Pushed by UK Government
September 14, 2017 by CRL Management
original article can be found at: New Custom Build Homes
Custom-built and self-built homes are a way to change housing from something a community receives to something the community does for itself.
Despite a growth rate of 6.25% year on year, self-built properties are still a minor phenomenon in the UK, accounting for only 10% of a newly built homes. In contrast, 60% of homes in Germany, France, and Italy are self-built. In Australia and the U.S.A., the amount is 40%.
England and Scotland are now getting involved in a sector that could provide the UK with over 40,000 new homes per year.
The country’s first plot shop has now been opened. Located in Bicester, it will sell land plots on the Graven Hill in Oxfordshire to those seeking new custom built homes. Once complete, the development will be the biggest of its kind in the country, providing up to 1,900 new custom and self built homes.
Housing and Planning Minister Alok Sharma said that methods of supplying needed housing need to become more creative. The opening of the first plot shop in the UK will make it possible to deliver new custom built homes and self-built properties on a wider scale.
The SNP Government in Scotland is establishing simplified planning zones, where certain types of development will have planning permission waived. The Housing White Paper also confirmed intentions to doubling the number of custom and self-built homes by the end of the decade.
Virgin Money also released a product for self-builders. The new custom built homes market offers substantial growth potential by delivering high-quality homes tailored to a buyer’s individual requirements.
With custom build, aspiring homebuilders are given the tools to design their dream homes whilst the professionals step in to translate those dreams into reality. This strategy eliminates the risk and burden normally associated with a self-build project, creating a more varied housing market that advocates both individuality and design.
In April 2016 it became a requirement for every council across the country to retain a register of people seeking to build their own home. Over 18,000 aspiring homeowners have now submitted their names to local registers.
The Home Building Fund, which the government launched in October 2016, has made short term loan finance worth £1 billion to support custom build, innovation, and small and medium-sized enterprise builders.
According to the Self & Custom Build Market Report, the estimated value of the sector is £6 billion and growth of 41% is expected over the next three years. Contributor James Orme said that the market increase and other factors are motivating product and service suppliers to regard the custom and self-build markets as interesting opportunities.
About CRL
CRL’s specialist team arrange structural defects insurance to protect thousands of new ventures throughout the UK and Ireland. CRL assist in sourcing fast, flexible cover, arranged by the in-house team who are dedicated to providing the highest quality of customer service.
Anyone engaged in a building project or managing a portfolio of new-build properties that require mortgages, will require a 10-year structural insurance policy on the property. CRL recognises that every opportunity is different, there are no tick boxes and no set criteria – just an appetite for adventure!
To find out how you can start working with CRL and purchase a structural warranty, visit what we cover.