“Dramatic rise” in new builds predicted

A local architect predicts a hike in new and renewed residential planning applications throughout the area for new-build and converted properties over the coming months due to the lack of available housing stock for sale.

With a record hike in house prices due to the Stamp Duty and Land Transaction Tax holidays in England and Wales, combined with people wanting to move out of larger urban areas following the Covid-19 pandemic, the available housing stock for sale in Powys and Ceredigion has diminished, according to Doug Hughes of Hughes Architects.

Rightmove reported a 2.1% increase in house prices in a month in April, breaking previous records. It said while the number of properties entering the market had levelled off to normal levels, it was “massively outpaced by buyer demand”.

Mr Hughes, Managing Director and Principal Architect at the planning and architectural practice, said it has resulted in homeowners looking to either extend and remodel their homes, or consider building new ones or converting buildings.

He said: “Many people are looking at alternatives for new or larger homes due to the lack of stock on the housing market. This means either enlarging their existing home if they can or finding a plot to build a new one on.

“In many cases, particularly in Powys and Ceredigion, demand for redundant barns or buildings that can be converted has also risen. Many landowners with such buildings are considering seeking planning applications for conversion before selling it on.

“We’ve seen new build properties placed on the market in recent weeks just snapped up in days in north Powys.”

He said he was working with a number of property developers who are in the process of preparing planning applications for new developments, including in Powys.

These include completion of seven Passivhaus homes near Newtown, 36 on site at Presteigne and planning about to be sought for 32 apartments in Newtown.

Mr Hughes, whose practice has offices at Newtown and Welshpool in Powys and Aberystwyth in Ceredigion, added: “Throughout the pandemic, and so far this year, we’ve had a continual pipeline of enquiries and work based on extending and remodelling homes. This is principally down to people wanting more space because they were working and living at home and wanted to balance work and personal life.

“However, there has been a rise in people wanting to move out of larger urban areas and cities and into rural or less densely populated areas where they can access space and the countryside.”

He said: “This has placed more demand on the existing housing market, particularly in Mid Wales. 

“Enquiries and work for building conversions, from older buildings to barns, has jumped in this time and we don’t envisage it dropping due to the sheer demand from people who are changing their work-life balance as a result of the pandemic.”