With such restrictions County Homesearch estimates that coastal homes will become the key hot property in the UK, pushing prices up even further and proving an effectively guaranteed investment.
Coastal properties have already weathered the housing dip, and County Homesearch Director of Devon David Hindom estimates properties with coastal outlooks command a 20-30% price premium in the area compared to those inland. “With the ‘staycation’ the key holiday trend this year the returns of a holiday let by the sea are set for big increases in 2012, making the limited supply of coastal properties a potential gold mine”.
Carol Peett, director of CountyHomesearch West Wales comments: “In Penally, the sweeping views over to the Devon Coast lead to a £695,000 asking price for a hillside four bed family home, while a nearby equivalent home lacking the views is marketed at £415,000. This premium is repeated throughout Pembrokeshire, and as the government closes off coastline from development these views are protected, ensuring the price gap will only increase in future.”
The new, simplified planning framework announced by the Government is designed to better support growth and help create homes and jobs. Power is transferred into the hands of communities, and helps protect and enhance the natural and historic environment.
Liz Peace, chief executive of the British Property Federation, said: “We believe the NPPF is now a more moderate and sensible document. The changes to the framework do not, however, alter its overall objective of supporting well-planned sustainable growth within a streamlined, plan-led system.
“Government has made some sensible concessions while still ensuring that local authorities must provide homes and jobs where they are needed.
“What’s needed now is clarity over how the NPPF is going to be implemented. Urgent questions remain over how local authorities should determine how many homes and jobs they need, and what the guidance that underpins the NPPF should be.
“And those local authorities that have failed in the last eight years to draw up an up to date Local Plan must now get on and create one. Hopefully the transitional arrangements announced today will be the spur they need.”
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