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Will The Planning Revamp Push Property Prices Higher?

As UK house price growth reaches a seven year high, a Yorkshire architect fears that the biggest ever shake-up to planning regulations could push property prices higher and be a further setback for first time buyers.

Andrew Stoddart at Leeds-based Vida Architecture - which seeks out land and property opportunities for UK and foreign investors - is concerned that the new Community Infrastructure Levy (CIL) could have a detrimental impact on the UK's residential property market.

Stoddart explains: "Applying to all new buildings and extensions above 100sqm, the CIL allows local councils to raise funds from developers applying for planning permission when undertaking new building projects - and my concern is that developers could pass these costs onto the buyer.

"With the CBI's business lobby group expecting house prices to rise by 8.2% this year and by 5.1% in 2015 - this could be a massive blow for first time buyers struggling to climb the property ladder."

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