{"id":15660,"date":"2016-08-09T11:56:10","date_gmt":"2016-08-09T11:56:10","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=15660"},"modified":"2016-08-09T16:21:10","modified_gmt":"2016-08-09T16:21:10","slug":"new-barn-conversions-decline","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=15660","title":{"rendered":"New Barn Conversions in decline"},"content":{"rendered":"

It has been reported that the demand for Barns and other redundant agricultural and industrial buildings to convert into residential accommodation is now significantly in decline.<\/p>\n

The total number of agricultural properties being converted into homes has fallen by over a quarter with 413 earlier this year, compared to 563 for the same period last year, according to Saving Stream, a funding company.<\/p>\n

It appears that the greater reticence in the market has had a disproportionate affect on such properties.\u00c2\u00a0 Not all conversions exceed projected budgets and costs, but a significant proportion do. However, with the asset value increasing throughout the time of development, perhaps by as much as 10% over a typical two year period, then the financial cushion usually protects the over exuberant developer.<\/p>\n

The squeeze on credit and property funding as well as the slower drag of any reduction in asking prices also play their part.\u00c2\u00a0 The supply of suitable buildings is also affected, as the \u00e2\u20ac\u02dceasier\u00e2\u20ac\u2122 conversions have in the main already been developed so the stock of properties available to convert becomes more restricted.<\/p>\n

It is also not without foundation that the horror moments from the Grand Designs TV programme and other similar television programmes will put off potential developers. Other factors include the overall market dampeners such as the increase in Stamp Duty on second homes – undoubtedly a factor.<\/p>\n

A spokesman for London and Country Mortgages said \u00e2\u20ac\u0153Anyone seeking the Grand Designs lifestyle might find that funding is is harder than expected.\u00c2\u00a0 A lot of these conversions are easier said than done.\u00c2\u00a0 Agricultural land might have restrictions on it which can add complications.\u00e2\u20ac\u009d<\/p>\n

*Back to August 2016 Newsletter<\/i><\/a>*<\/p>\n

\u00c2\u00a9 www.propertysurveying.co.uk<\/a>     LB<\/p>\n","protected":false},"excerpt":{"rendered":"

It has been reported that the demand for Barns and other redundant agricultural and industrial buildings to convert into residential accommodation is now significantly in decline. The total number of agricultural properties being converted into homes has fallen by over a quarter with 413 earlier this year, compared to 563 for the same period last … Continue reading “New Barn Conversions in decline”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"folder":[],"class_list":["post-15660","page","type-page","status-publish","hentry"],"yoast_head":"\nNew Barn Conversions in decline - Property Surveying NEWSLETTER<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=15660\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Barn Conversions in decline - Property Surveying NEWSLETTER\" \/>\n<meta property=\"og:description\" content=\"It has been reported that the demand for Barns and other redundant agricultural and industrial buildings to convert into residential accommodation is now significantly in decline. 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