Last week the UK government announced plans to modify the planning process in this country. Amongst the key changes mooted, are plans to remove the requirements to get permission for extensions and conservatories; as long as they pass a local impact test. This may well be good news for property investors and home owners alike.
A standard single planning application form is to be created, and the planning process would be streamlined from 16 to a maximum of 8 weeks. The Government is also adamant that changes to proposed plans should not mean that plans have to be resubmitted and thus incur additional planning fees. More funding is being made available for Planning Departments so that these changes can take effect.
UK property investors could benefit greatly from the proposed plans which would make the prospect of undertaking renovation and extending property a much more attractive prospect. Thus easily adding value to the property and allowing greater profits to be secured on sale.
The price of property is still showing very little signs of slowing which as we have discussed is due to the lack of supply of quality housing for rent. Property investors have known for years that an improvement work such as an extension can boost the value of a property significantly.
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