The housing market is set for a busy few months as buyers look to beat changes in stamp duty thresholds from April that will eventually push up the cost of buying a property.
However, buyer sentiment could also be hit by economic uncertainty in the UK, a potentially slower pace of interest rate cuts due to higher gilt yields, and the new Trump presidency in the US.
House price data remains positive for now.
(Data source: Money Week).
The price of plots will differ throughout the UK. In all cases the value of land with planning permission is directly related to the value of the home that can be built upon it.
Planning permission is a largely inescapable part of the process when it comes to extending your house, building an office in the garden, or building a new house.
Firstly, think of what can fit on the site. At first glance, an undeveloped house can seem small as it is hard to visualize the scale of the house that might eventually be there.
After boosting activity in the first three months of the year, stamp duty changes could dampen buyer demand from April.
House prices rose by around 3% in 2024, and experts forecast similar rises in 2025.
