The New UK Growth Plan
Chartered Surveyors & Rural Property Advisors in Essex, Suffolk & Cambridgeshire Government plans to boost the struggling construction industry and consequently provide more homes are on the table. They have however had a mixed reception from many within the construction industry. Some felt that the proposals would bring a much needed lift with regards to infrastructure and the development of housing. Others worry that the resultant ‘sugar rush’ would just exacerbate inflation rates. Some did not like the fact that certain environmental concerns will no longer be...
Read MoreDevelopment prospects
Whatever you might think of immigration it is clear that housing demand is growing and this part of East Anglia feels the pressure more than most. Edge Analytics produced a report in May 2015 that suggested Essex needs to build 190,000 new houses between 2012 and 2037. These figures, together with other evidence, are being processed by the various District Councils for incorporation into the emerging Local Plans. Many local authorities are rushing to get an adopted Local Plan in place following the Government’s announcement in October 2015 that ‘if councils fail to produce and bring into...
Read MoreBrexit impacts on farming
Well, we have only gone and done it! Whilst the polls were always close ‘those in the know’ were sure that the bookies had it right and we were going to stay in the EU. Wrong again, and now we have a mad scrabbling for position which just delays the difficult decisions a little further. Agriculture was the biggest recipient of EU funds and has the most to lose in a tussle with the NHS. The CLA and NFU have produced papers outlining priorities for a UK Agricultural Policy (UKAP). The core point is that agriculture has to remain a profitable business if the countryside is to retain its...
Read MoreWhere is the silver lining?
It has been clear since the late spring of 2015 that confidence is waning in the agricultural land market. Prices achieved in mid 2015 were in many cases lower than those in 2014 and by the end of 2015 a continuing crisis in confidence was resulting in guide prices coming down and properties failing to find a buyer. It is not all doom and gloom. Recent research has suggested that land prices across England rose marginally in 2015 but there is little doubt that the trend has been negative in the East of England. Essex saw over 4,000 acres in the market but divided between 21 locations this...
Read MoreNet tightens on Inheritance Tax relief for Furnished Holiday Lets
HMRC have recently won a tribunal decision that confirms that inheritance tax relief will only be available on furnished holiday lets (FHL) in exceptional circumstances. Simon Dixon Smith of Land Partners comments ‘the newly released case of Green v HMRC confirms that the majority of holiday lettings businesses will not attract inheritance tax relief. This will be costly to the families of holiday cottage owners’. It is estimated that there are over 75,000 units of FHL in the UK. Many of these will have been purchased for the primary benefit of the owners with holiday lets offered as a way...
Read More
