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What does Brexit mean for home extensions in London?

Could Brexit effects home extensions in London?

Economic uncertainty over the EU referendum decision reached in June last year hasn’t helped a host of pre-existing factors, like the sluggish rate of pay-rises in relation to inflation, that have slowed the predicted rate of increase in property value to the lowest level in four years (4.4% projected this year, to be exact, and 4.1% in 2018) according to the Centre for Economics and Business Research think-tank.

One specific issue that’s arisen has been the increase in stamp duty of at least 3% on additional residential properties above £40,000 (another contributing factor to the stalled rate) that’s making the decision to change properties, or acquire another, all the more difficult. But there are a lot of available solutions for adding both value and space to your existing property at the same time.

Adding-an-extension-to-your-property-can-provide-a-solution-to-many-problems-that-you-may-have-thought-that-only-buying-a-new-property-could-remedy.

Adding an extension to your property can provide a solution to many problems that you may have thought that only buying a new property could remedy.

 

The current housing shortage, outlined in the government’s recent white paper on housing which states that 40% of planning authorities have no idea how they’ll meet local housing demands over the next decade, coupled with London’s remarkably low vacancy rate of 4% means that the rental market is going to remain strong no matter what. Instead of going through the trauma of dealing with the increases in stamp duty on second homes, that was introduced in April last year, adding extra living space to your current home can be an incredibly cost-effective way of making sure you’re getting the most out of your current property.

It’s not all good news though. A, potentially, weaker sterling may increase the prospect of foreign investment and commercial refurbishment but it also drives up the cost of UK construction as up to 60% of the raw material for the UK construction industry comes from Europe and the government’s headline-grabbing negotiating style (some people were recently convinced that the UK was going to war with Spain) could make the situation even worse. It’s vital, therefore, to make sure that you’re working with a planner who knows how to keep building costs in line.

“Having a clear plan can not only put your mind at ease it can make the entire process run far more easily.”

Everybody wants the best deal but a lot of the so-called “cheap” conversion and extension architects will not be upfront with you about the full scope of costs, to put it bluntly. Having a clear plan can not only put your mind at ease it can make the entire process run far more easily. At Extension Architecture we specialise in planning that gets you precisely what you want in the smoothest way possible. Unlike a great many architects, who will focus almost entirely on the creative side and learn about the ever-changing world of planning permission rules at your expense, we handle 30 planning permission cases per month with a 95% success rate. We’ve built tremendous relationships with councils in London to best understand what they want out of an application before it’s filed, rather than learning what they will or won’t accept by trial and error.

So, at either rate, planning is still the most important stage in extending a property; for both householders and developers. Speaking to a planning expert like Extension Architecture can be far more beneficial than going straight through a residential architect; and this isn’t just in terms of gaining permissions from councils. Extension Architecture works with you through every stage, from planning applications and permitted development to topographical surveys and interior design, creating a tender for your building stage. This ensures that builders won’t be surprising you with hidden, or extra, costs inferred from mistakes or oversight. This specificity on valuations isn’t just important for peace of mind though, it can be essential to ensuring that your project is finished at all. It’s quite likely that Brexit will reduce the amount of jobs going to tender, therefore reducing available work for contractors and, ultimately, their level of liquidity. This will increase the risk of contractors going under so working with a company who know not just the ins and outs but the reliability of the people conducting your build is paramount.

Case Study Basement Extension in Islington

For example, when restoring a vacant shop and converting it into a self-contained apartment in for a client in Islington, Extension Architecture was able to handle all of the client’s needs effectively from the Change of Use from a professional services to a residential flat. Swiftly moving through planning permission with Hackney Council, by understanding and respecting their wishes, to planning and implementing a single storey rear extension at a basement level and alterations to the front elevation; including every aspect that this entails, such as excavation and waterproofing, into the tender.

If you’re thinking about extending your home, our planning application services for a single storey extension start from £900, building regulation from £1100, and a full site measurement and photographic survey by one of our teams of experts can be carried out from as little as £350.

To request a free quote, submit your details on our simple online form here. Alternatively, give us a call on 0203 409 4215 to speak to someone in our offices and to find out exactly what we can do for you.

Double Storey Side Extension in Epsom and Ewell

Date:2017 Borough: Epsom and Ewell Project Type:Double storey exension, Loft conversion, Single storey porch exension [supsystic-slider id=41 position="center"] Brief- Extension Architecture helped a client realise their desire to extend their detached home in Epsom and Ewell to better accommodate their growing family. The proposed double storey side extension, loft conversion and porch extension would allow him to gain a master bedroom, convert a kitchen at the front of the house into a living area and to ...

Why is Permitted Development so good for developers?

What is Permitted Development?

Well, in the simplest terms, it can save you both time and money when considering an extension to a residential property or even a conversion of a commercial premise into multiple living spaces.

Permitted Development rights allow for a number of changes to be made without a formal planning application, the permission being granted not by a local authority but by Parliament.

 

Should I Hire An Architect?

A guide to hiring an architect | Extension Architecture

An architect can offer great insight when remodelling a home. However, in a world where it’s easy to do a project yourself or hire a contractor, architects are often seen as an expensive option. It can be quite difficult to find the right architect and so here we look into the advantages and disadvantages of hiring an architect for your project.

All You Need to Know About Loft Conversions

Need some extra space but not sure where to start? Here is our guide on loft conversions to maximise space and add value to your home. Loft conversions are a great way to utilise an empty attic by adding more space and value to your home. With the right planning, converting your loft into a study or bedroom can add up to 20% of value to your home, according to Homeowners Alliance. Most homeowners will usually benefit from this type of extension and get the money they spent back in the value of the home. Which type of ...

Rear Extension & Loft Conversion in Haringey

Date:2017 Borough: Haringey Project Type:Single storey exension,  Loft conversion [supsystic-slider id=38 position="center"] Brief Based in Haringey, this attached home is to be extended into a loft as well as a single storey rear extension. The client wanted to achieve a creative open spaced layout. This consisted of an open space living area that extends into the kitchen, a pitched roof rear extension and a master bedroom in the loft. A seamless Juliette balcony was also designed to accompany a creative w ...

Planning Approvals for EA this Month!

It's been a busy month for Extension Architecture With upcoming construction phases for some of our exciting projects and planning approvals coming through, we have had positive responses from our clients! Check out all of our approved projects here or click on the photos below to view this month's planning approvals.  [supsystic-slider id=25 position="center"] Immersive Design We have also been having fun creating immersive designs for our clients, in order for them to really get a feel of what their project will lo ...