More Rural Housing Development Recommended
Some of you that are involved in property development in rural areas here in the UK may be pleased to hear that the RICS Rural Policy Paper that was recently published has made a recommendation that may be of great interest.
The Royal Institute of Chartered Surveyors refers to a problem that has only grown worse in recent years. The cost of buying a property in a rural community in which to live has gone up considerably making such housing unaffordable for many people wishing to live and work in the locality.
It is estimated that there is a large shortfall in affordable housing in rural areas. In fact, there is thought to be a shortfall of about 76% in that type of housing. We are sure that you will agree that figure is far too high. So, what is proposed in the RICS Rural Policy Paper to go some way towards helping to remedy this problem?
Well, RICS is encouraging the owners of estates to work closely with local authorities and make available a portion of their land on their estate on which could be built a minimum of eight houses that are put up for sale at an affordable price to the rural workforce.
So, if you are a property developer who is keen to build on rural land the above may be of interest to you. If local authorities took on board what RICS is proposing in their paper and worked closely with estate owners then a tremendous opportunity could be created for developers.
In that respect, property developers may well be looking for funding to help in the development of such property. With so many financial institutions offering development finance it is important that you have the opportunity to obtain a competitive lending package. Here at Commercial Mortgage Link we can put you in touch with a specialist who has access to an extensive panel of lenders so why not get in touch.