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immobile property ladder (stagnant salary growth paired with continued rising property values and cheap debt to make us all feel richer)
These sorts of extensions are driven by Stamp Duty more than anything. When moving house to get more space has a £100k deadweight loss the incentives are all screwed up.
The last part of your comment triggered a huge eyeroll I am afraid.
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More space > No more space.
Also, Parklife!
NickCJ
chrisbmx116
@EstelleGetty
Dormers are shit. You can roll them in glitter and fill their pokey en-suite bathrooms with Aesop products, but they ultimately provide sub-standard space 99% of the time with overly low ceiling heights and overheating rooms.
The introduction and continued relaxation of Permitted Development Rights paired with an immobile property ladder (stagnant salary growth paired with continued rising property values and cheap debt to make us all feel richer) along with general 'every man's home is his castle/I'm alright Jack' mentally has a lot to answer for.