Availability and price of land remains key factor to the future growth of the self-build market
There is a strong disconnect between the number of available sites and where people want to build, according to the latest self build market report from AMA Research.
The number of applications for self build projects in the home counties and the south west is relatively large when compared to the number of available sites. In areas such as the Highlands, Northern Ireland and the north east, the number of sites available are notably higher when compared to the number of applications.
Throughout the UK, there are significant variations in the level of self build demand and available plots to facilitate this demand.
The increase in house prices has enabled mature self builders to self-fund their projects through a number of means by using their savings, revenue from property sales, remortgages or other types of loan. However, council planning systems are being viewed as one of the biggest constraints for self builders for allocation and granting planning permission for small sites.
Over the next four years, the future prospects for the self build market remain positive but relatively modest with self build volumes rising slowly, according to the report.
“Our forecasting takes into consideration key drivers such as lack of consumer confidence due to the uncertain economy, continuous constraints in the planning process and a relatively constrained mortgage market,” it said.