Self build sector 'flourishing'

The burgeoning number of people looking to construct their own home is helping the self build market buck depressed property trends.

While a shrinking mortgage market may be putting off movers, City Wire reports loans are still readily available for those prepared to assemble their own accommodation and add value as they go.

As well as financial facilitation, self builders are also benefiting from cheaper labour costs and better plot availability as professional housing projects are temporarily shelved until the market recovers, the website notes.

For those less ready to start from scratch, the slumped housing market is offering new self build options.

Notably, City Wire claims there is an incentive for developers to sell unfinished projects direct to this sector in an effort to cut their losses.

Other housing initiatives flourishing under the credit crunch include renovation projects. Research by lender GE Money has found that those who might otherwise be planning to move home are increasingly tempted to sit tight and refurbish instead.