Hope value of developments - Revision history

Editor at 10:28, 10 January 2025

2025-01-10T10:28:26Z

← Older revision		Revision as of 10:28, 10 January 2025
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−	Hope value is the term used to describe the market value of land based on the expectation of getting planning permission for development on it. This differs from the ~~[[Existing_use_value\|~~existing use value]] which is what the land or property is worth in its current form.	+	Hope value is the term used to describe the market value of land based on the expectation of getting planning permission for development on it. This differs from the existing use value which is what the land or property is worth in its current form.

	Generally, land that has planning permission for development has a higher value than land that does not. For example, a farmer may receive a valuation of their land that reflects its agricultural value. However, if the farmer were to secure planning permission to build a housing development on the land, the value could rise considerably.		Generally, land that has planning permission for development has a higher value than land that does not. For example, a farmer may receive a valuation of their land that reflects its agricultural value. However, if the farmer were to secure planning permission to build a housing development on the land, the value could rise considerably.
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	Hope value is defined by RICS as “...any element of open Market Value of a property in excess of the current use value, reflecting the prospect of some more valuable future use or development”.		Hope value is defined by RICS as “...any element of open Market Value of a property in excess of the current use value, reflecting the prospect of some more valuable future use or development”.

−	In ~~January 2025 he~~ government opened a consultation on proposed changes to compulsory purchase order (CPO) rules, including the removal of “hope value” to support affordable housing delivery. Hope value, ~~which reflects~~ the potential future development value of land, often increases compensation costs for landowners.	+	In December 2024 the Labour government opened a consultation on proposed changes to compulsory purchase order (CPO) rules, including the removal of “hope value” to support affordable housing delivery. Hope value, reflecting the potential future development value of land, often increases compensation costs for landowners. The consultation closes in February 2025, for further information and to make a response visit the government website page [https://www.gov.uk/government/consultations/compulsory-purchase-process-and-compensation-reforms/compulsory-purchase-process-and-compensation-reforms Open consultation: Compulsory Purchase Process and Compensation Reforms.]

	= Related articles on Designing Buildings =		= Related articles on Designing Buildings =

Editor at 09:58, 10 January 2025

2025-01-10T09:58:00Z

← Older revision		Revision as of 09:58, 10 January 2025
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	Hope value is defined by RICS as “...any element of open Market Value of a property in excess of the current use value, reflecting the prospect of some more valuable future use or development”.		Hope value is defined by RICS as “...any element of open Market Value of a property in excess of the current use value, reflecting the prospect of some more valuable future use or development”.

−	= Related articles on Designing Buildings ~~Wiki~~ =	+	In January 2025 he government opened a consultation on proposed changes to compulsory purchase order (CPO) rules, including the removal of “hope value” to support affordable housing delivery. Hope value, which reflects the potential future development value of land, often increases compensation costs for landowners.
		+
		+	= Related articles on Designing Buildings =

	* Avoiding planning permission pitfalls.		* Avoiding planning permission pitfalls.

Designing Buildings at 07:52, 7 November 2020

2020-11-07T07:52:04Z

← Older revision		Revision as of 07:52, 7 November 2020
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	* What is a housing start?		* What is a housing start?

−	[[Category:Planning_permission]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]	+	[[Category:DCN_Definition]] [[Category:Definitions]] [[Category:Planning_permission]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]

Designing Buildings at 10:53, 27 October 2020

2020-10-27T10:53:31Z

← Older revision		Revision as of 10:53, 27 October 2020
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	Hope value is the value based on the expectation that land will get permission for development in the future, meaning that it is likely to be worth more. The hope value will rise as the prospect of planning permission becomes more likely, for example, if it is identified for development in the Local Plan, or if similar land is granted permission.		Hope value is the value based on the expectation that land will get permission for development in the future, meaning that it is likely to be worth more. The hope value will rise as the prospect of planning permission becomes more likely, for example, if it is identified for development in the Local Plan, or if similar land is granted permission.

−	~~= Find out~~ more =	+	Hope value is defined by RICS as “...any element of open Market Value of a property in excess of the current use value, reflecting the prospect of some more valuable future use or development”.

−	=== Related articles on Designing Buildings Wiki ===	+	= Related articles on Designing Buildings Wiki =

	* Avoiding planning permission pitfalls.		* Avoiding planning permission pitfalls.

Designing Buildings: moved Hope value to Hope value of developments

2018-11-28T15:41:04Z

moved Hope value to Hope value of developments

← Older revision

Revision as of 15:41, 28 November 2018

Editor at 11:54, 2 July 2018

2018-07-02T11:54:36Z

← Older revision		Revision as of 11:54, 2 July 2018
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	* Speculative construction.		* Speculative construction.
	* Use class designation for land and buildings.		* Use class designation for land and buildings.
		+	* What is a housing start?

	[[Category:Planning_permission]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]		[[Category:Planning_permission]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]

Editor at 15:34, 4 May 2018

2018-05-04T15:34:32Z

← Older revision		Revision as of 15:34, 4 May 2018
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	* Avoiding planning permission pitfalls.		* Avoiding planning permission pitfalls.
	* Development appraisal.		* Development appraisal.
		+	* Difference between existing use value and market value.
	* Existing use value.		* Existing use value.
	* How long does it take to get planning permission.		* How long does it take to get planning permission.

Editor at 14:52, 4 May 2018

2018-05-04T14:52:38Z

← Older revision		Revision as of 14:52, 4 May 2018
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−	Hope value is the term used to describe the market value of land based on the expectation of getting planning permission for development on it. This differs from the existing use value which is what the land or property is worth in its current form.	+	Hope value is the term used to describe the market value of land based on the expectation of getting planning permission for development on it. This differs from the [[Existing_use_value\|existing use value]] which is what the land or property is worth in its current form.

	Generally, land that has planning permission for development has a higher value than land that does not. For example, a farmer may receive a valuation of their land that reflects its agricultural value. However, if the farmer were to secure planning permission to build a housing development on the land, the value could rise considerably.		Generally, land that has planning permission for development has a higher value than land that does not. For example, a farmer may receive a valuation of their land that reflects its agricultural value. However, if the farmer were to secure planning permission to build a housing development on the land, the value could rise considerably.
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	* Avoiding planning permission pitfalls.		* Avoiding planning permission pitfalls.
	* Development appraisal.		* Development appraisal.
		+	* Existing use value.
	* How long does it take to get planning permission.		* How long does it take to get planning permission.
	* Land acquisition.		* Land acquisition.

Editor at 15:44, 28 March 2018

2018-03-28T15:44:05Z

← Older revision		Revision as of 15:44, 28 March 2018
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	* Land value.		* Land value.
	* Meanwhile use.		* Meanwhile use.
		+	* Off-plan property.
	* Permitted development.		* Permitted development.
	* Planning permission.		* Planning permission.

Editor at 16:46, 27 February 2018

2018-02-27T16:46:39Z

← Older revision		Revision as of 16:46, 27 February 2018
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	* Development appraisal.		* Development appraisal.
	* How long does it take to get planning permission.		* How long does it take to get planning permission.
		+	* Land acquisition.
	* Land value.		* Land value.
	* Meanwhile use.		* Meanwhile use.