Today, I'm thrilled to share an exciting revelation that emerged from the recent Autumn Statement of 2023 – news that will undoubtedly ignite a spark of enthusiasm among property investors and developers like never before.
In the midst of various updates and economic insights, there was an unexpected nugget that promises to be a game-changer for Small Time property investors and developers.
The Big Surprise: Permitted Development Revolution
The Chancellor, in a surprising turn of events, announced a consultation on a groundbreaking new permitted development right specifically tailored for property investors and developers. Brace yourselves for this one – a new permitted development right that allows the conversion of a single dwelling house into two separate flats!
This revolutionary move is a breath of fresh air for our community. While permitted development rights have existed for dwelling houses before, this one takes it up a notch by enabling the subdivision of a residential property, presenting a fantastic opportunity for those keen on maximizing their investments.
Why It Matters for You
Now, you might be wondering, "How does this impact me?" Well, if you're in an area where house values exceed the national average, this new permitted development right is a golden ticket. Imagine acquiring a modest property for £400,000 and gaining the ability to convert it into two flats – that's a tremendous opportunity!
While it might not be viable in all regions, it's a potential game-changer in areas with higher property values. As we head into 2024, this is a unique chance to capitalize on a new avenue for property development.
Stay Informed and Seize the Opportunity
Of course, with great opportunities come potential challenges. Stay informed about the progress of this development by subscribing to our channel.
Conclusion: Elevate Your Property Journey
In conclusion, 2024 is shaping up to be a landmark year for property investors and developers. The unveiling of this new permitted development right opens doors to innovative possibilities.
DI Properties already has secured 15 houses in the last 2 weeks.
If you’d like to learn more about this development, please email me at doris@diproperties.co.uk