A budget is just days away and there’s concern from many about the impact it’ll have on their lives.
But policies that have already been set in motion are already having a bearing on the choices people are making – with property owners and home buyers being no exception.
Many are worrying about the ramifications that Deputy PM Angela Rayner’s plans to plough ahead – quite literally – to build more than a million houses across Britain will have on their brick and mortar assets.
But experts from Stacks Property Search say that understanding Labour’s policies and adapting your property strategy to the likely changes will be key to making smart investments during their tenure.
James Greenwood says that big plans for infrastructure could affect property choices – particularly in rural areas.
He said: “Infrastructure is one of the biggest concerns for buyers of country property.
“There’s very little that’s totally protected; when it comes to national infrastructure in pursuit of carbon zero, all bets are off.
“National infrastructure in the shape of cables for wind energy, or solar farms, trumps a Site of Special Scientific Interest, an Area of Outstanding Natural Beauty and Conservation Areas, so don’t assume that you will be totally protected in any of these areas.”
Ed Jephson agrees, but says that buying in a National Park, such as Dartmoor, could offer some level of reassurance.
He said: “While pushing essential infrastructure through our national parks isn’t impossible, we’re unlikely to see the construction of a string of pylons, or plans for a new town.
“Living on a national park does limit what owners can do to their own property, but it also brings with it a reassuring level of protection.”
Clare Coode said that the protection once given to green belt areas has totally changed. She said: “Avoid green belt areas immediately adjacent to towns and large villages; they may not be fields for much longer.
“It’s much safer to tuck yourself into the middle of a village where more development is difficult; or further away from local amenities where it’s hard to make an argument for developing green belt land.”
She added: “Avoid buying a property that’s adjacent to a barn that’s been refused planning in the past. Class Q, the planning category for converting agricultural buildings into residential has been around for a while, but the restrictions are much more onerous than one might think.
“These restrictions may well be further loosened, making it easier for the owners of such buildings to obtain planning permission for the conversion.”