Housebuilders brace for impact of Building Safety Levy as lawyers warn of unintended consequences
Summary
The article reports that the Building Safety Levy on newbuild developments has been introduced today. It notes that housebuilders are preparing for the financial impact, while lawyers have warned that the measure may have unintended consequences.
Why it matters
The levy affects the economics and delivery of new-build housing, which can influence development viability and transaction activity. Surveyors involved in valuation, development appraisal, and due diligence may need to factor the charge into advice and assessments.
Key points
- Building Safety Levy on newbuild developments has come into force today.
- Housebuilders are bracing for the cost impact of the charge.
- Lawyers have warned about possible unintended consequences.
- The measure may affect development viability and pricing assumptions.
Regulations:
Building Safety Levy
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