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Ask the Expert with Alistair Hilton

There seems to be a lot of developments around Shropshire and the borders, I have an ideal site on the edge of the village, shall I wait a while before doing anything about it?

By Alistair Hilton, head of sales at Balfours.

This is a very good question and one that keeps coming up in conversation with local land owners. It is one that requires in depth consideration.

Firstly, consider whether the site is allocated within the SAMDev (Shropshire's Allocation for New development). If it is, obtaining planning permission may be considerably more straight forward than neighbouring land, which may not fall within the allocation.

Secondly, consider how many of these sites have been either bought, and or are being built. It's clear to see that our local councils and planning authorities are granting more permission in rural areas, but what is the uptake? What is the demand for housing? Where are the house buyers, and where are they coming from?

One piece of advice I am always happy to offer and discuss is “supply and demand.”

Researching how many sites are available at one time and what the demand is for the newly built homes must be at the top of the agenda. This will determine whether a land owner should action a sale, or wait for potentially better market conditions. The wait can take years for the current over supply of inventory to thin out – but then selling for housing is a once in a lifetime opportunity.

The political climate and overall market trends will all play a part, as will the strength of your desire, to make that sale. Every situation is different and even if you believe the site is a decade off your life game plan taking professional advice will provide a fresh perspective which can be hugely beneficial.

Another conundrum which comes up in conversation relates to those considering a rural property saleon the edge of their land: Would it be better to market it as is, or with a few acres? This question is considerably easier to answer: Yes, include a couple of acres.

The uplift in value when selling a few acres attached to the sale of a residential property can create significant uplift in the value of that property. By adding a couple of acres you widen the market to provide “lifestyle” choice.

Those buyers looking for residential property with a few acres will usually be budding smallholders, equestrian enthusiasts or those seeking to acquire a slice of the countryside, and therefore are usually prepared to offer a significant premium.  01743 353511 This email address is being protected from spambots. You need JavaScript enabled to view it..

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