Self Build on the Rise

ProAktive www.selfbuildinsure.co.uk Self Build on the Rise If you have ever considered building your own home, you're not alone. Some statistics show that 1 in 7 people in the UK are researching the possibility of undertaking a self build project. With capital becoming easier to secure and the benefit of not having to pay stamp duty on land below £125,000, the idea of self building is becoming more and more attractive. Here are some of the key statistics for self building in the UK. Right to build In the first 7 months after launch, 18,000 people signed up to the scheme. And that figure has now risen to over With its 'Right to Build' scheme, the government is hoping to increase the number of self and custom build homes in the UK by 35% 40,000 each year This rising interest in self builds has led to a million people saying they intend to start a self build project in 2020 and it is thought over 7 million people are actively researching information about the self build process. The global self build market Self builds make up around 30-80% of homes in most developed countries, however, despite recent increased interest, the UK is still a long way behind at approximately 10%. This is slowly changing though and predicted to increase year on year. Austria Sweden Germany Ireland 80% 67% 63% 59% Canada USA Australia UK * 51% 44% 34% 10% * Figures are approximate and changing frequently. An overview of land prices in the UK Some of the cheapest land in the UK can be found in the highlands of Scotland. Particularly Land in Liverpool is rated as amongst the most expensive in the country by some land finding services. around Inverness. Perhaps the most expensive land in the UK can be found at Sandbanks peninsula in Poole where the asking price is over £1,000 per square foot. If you are thinking about taking on a Self Build project, be sure to protect your investment with Self Build insurance. ProAktive Self Build developed the first UK Self Build insurance policy in 1984. ProAktive are the industry leaders, with specialists available to discuss your project build, and insurance requirements. ProAktive Doncaster: 01302 346 831| Follow us O00 www.selfbuildinsure.co.uk NZ