One in nine would consider undertaking a self-build project within the next 12 months.
The biggest attraction to carrying out a self-build was to create a home that was tailored to a person’s individual wants and needs. Just over a quarter, 26% were attracted by the likelihood of a self-build working out significantly cheaper than buying an equivalent established property.
Just over a fifth said they were attracted to self-build because they could make a more efficient and environmentally friendly home than with an established property.
Housing minister Grant Shapps launched an action plan for the self-build industry last week.
At one time the self-build market was estimated to be a healthy 20,000 homes a year. Now, the government is backing a drive to boost the market from the current 15,000 to nearer 50,000 homes a year, and has set up working parties to help cut red tape and make the process easier.
Richard Barker, mortgage manager at N&P, said: “Self-build is a market with huge potential which could have many benefits for those willing to carry out a self-build project, not to mention the benefits for the general economy and some of the problems surrounding the housing market in this country.
“This research proves that people are genuinely interested in building their own home, if they can get the right products to help them.
“There are many myths that need to be dispelled around self-build, you don’t have a background in the construction industry or know the difference between a chisel and a trowel. You don’t even have to get your hands dirty at all as it is quite common for people to employ a project manager, and you can get a mortgage to help you buy the land you want your home to be built on.
“We welcome the work that Grant Shapps, the government and the Working Group are doing to promote self-build. There are a number of challenges which the industry needs to address, including the availability of land.
“Individuals and lenders shouldn't be put off by self-build, it is no more risky than other ownership models and we, as a responsible mutual society, are fully behind the initiative to empower more people in the UK to build their own homes.”
