Latest figures suggest that self-builders in the UK are doubling the size of their homes while paying up to 27% less than the price of an existing house or new build
The Self & Custom Build Market Report revealed that those who built their own house appeared to enjoy significantly more space and comfort of approximately 247m2 as opposed to England’s average of 94m2.
In addition, the same survey, conducted by Homebuilding & Renovating, reinforced the financial benefits of opting for this route, as the significant savings self-builders can achieve through development gains, lower production costs and an element of positive house price inflation are approximately 25%, with the average finished house value being £717,071.
When examining how self-builds compared against the average size of homes in the current market, the North East stood out as having the largest dimensions of 373m2, followed by Northern Ireland. Expectedly, London had the smallest average at just 191m2. Based on their UK location, the size was two or even three times bigger than the existing or newly built properties.
According to Jason Orme, spokesperson for The Northern Homebuilding & Renovating Show: “Self-builders are making the most of the market as they know the financial and practical results will be more rewarding than if they were to buy a new house. Building your own home allows you to choose its specifications and customise it for your needs. We can confidently say – self-builders appreciate their space.”
The main source of data that this report is based on is an entirely new comprehensive consumer survey of 500 self-builders who had either recently completed or were about to complete their project. This research was conducted via an online survey in 2017. The overall analysis was compiled based on statistics from HMRC, DCLG and more.