Exciting new changes to Planning Permission were announced last week, but what were they and how might they affect landlords across the country?
Under “Permitted Development” changes, restrictions to local council powers have been proposed in order to streamline the process of planning permissions and deregulating developments of specific kinds.
Full planning applications will not be required for demolition and rebuilding of unused buildings for homes
These changes mean that quicker turnarounds on unused buildings will provide new opportunities for property development. Exciting times if you’re looking to expand your property portfolio by snapping up some stunning new builds.
Homeowners can add up to 2 additional storeys to create new homes/new living spaces with fast-track approval.
Properties with space for expansion may be able to increase floor plan or additional rooms upwards. Great for making properties larger, to accommodate growing families, and increasing your rent revenue over time. A good long-term investment if it works for your properties. Worth noting, however, this does not include loft conversions.
These announcements and proposed changes are designed to provide economic growth, boost local economies and improve outdated and abandoned high streets but not everyone is pleased about these changes. Despite updating planning regulations which are 70+ years old (!) the Local Government Association’s housing spokesman, Cllr David Renard, expressed concerns over changing the opportunities local authorities, neighbours and communities have to speak out against “unsightly large-scale unsuitable extensions” and ensuring that these do not remain “unchallenged and without scrutiny”.
Whatever the outcome, these changes will certainly be interesting to watch over the next few months as the plans come into force and start to take effect.