The amount of money lent to people building their own homes could rise by 141 per cent, a report has forecast
The report from trade body the National Self Build Association predicted the total sum lent in mortgages to self builders would rise from £790m to over £1.9bn over the next three years.
The study - a progress report on the government’s action plan to boost self build housing - quoted the figures from a report by information firm Datamonitor which attributed the predicted growth to the higher media profile of self building and government plans to support the sector.
Meanwhile a new website for people building their own homes was launched yesterday.
The portal, www.selfbuildportal.org.uk, provides information on how to build a home.
The website was launched a 10 Downing Street by a group of TV presenters and broadcasters who specialise in design and building including Kevin McCloud, George Clarke, Tommy Walsh and Dan Cruickshank plus housing minister Grant Shapps.
Mr Shapps said: “Last year, self-builders accounted for about 14,000 new homes in this country – more than many large commercial builders. Yet our self-build industry still lags behind much of the rest of the world, with the opportunity to build your own home seen as something only for a select few.
“That’s why today, I’m pledging to back the self-build boom and support the industry to double in size over the next few years. As well as a new website giving help and advice, we’re working hard to identify more land for development and have reformed the planning rules to stop people’s aspirations getting tangled in red tape.”
Ted Stevens. chair of the National Self Build Association, said: “More than half the UK population would like to one day build their own homes, and around two million families are keen to get their projects off the ground in the very near future. The new self build portal will help them figure out what, realistically, they can afford to build; it will explain how their budgets can go further if they team up with other would-be self builders or do a portion of the work themselves, and it highlights the parts of the UK where it can be cheaper to find a site and construct a home.”