30% in the UK would consider having their own home individually built in the next five years if the finance was available, according to new research from Norwich & Peterborough Building Society (N&P).
The research showed potentially strong demand for self build projects, including that 12% would consider undertaking a self build project within the next 12 months.
The housing minister, Grant Shapps, last week gave his backing to a drive to boost the market from the current 15,000 to nearer 50,000 homes a year, and has set up working parties to help cut red tape and make the process easier.
The biggest attraction of a carrying out a self build, with 42% in agreement, was to create a home that suited a person’s individual wants and needs. 26% were attracted by the likelihood of a self-build working out significantly cheaper than buying an equivalent established property.
21% said they were attracted to self build because they could make a more efficient and environmentally-friendly home than with an established property.
Richard Barker, mortgage manager at N&P, said: “Self build is a market with huge potential which could have many benefits for those willing to carry out a self build project
