My hon. Friend gives me a chance to clarify the situation. Earlier this year, we changed the permitted development rights on farm buildings, in particular, to allow them to be converted into homes. They would probably come more into the conversion category, unless it involves somebody being able to get planning permission to demolish what was there and then move on to self-build or custom build, as appropriate. I guess that it somewhat depends on the size and quality of the sheep pen.
Many people across the country would love to build their own home, whether by building it themselves or by commissioning a specialist developer. As has been noted, research by Ipsos MORI has shown that over 1 million of them are looking to do so in the immediate future. We know from the latest Building Societies Association consumer survey in September that more than a third of Britons are open to building their own home. That is a phenomenal number to whom this Bill could open up a new market.
That strong level of interest is not surprising. Custom and self-build housing offers people more choice and the ability to design a home to suit their own needs, leading to greener and better-designed homes. If people design their own home, as I am sure the hon. Member for Wolverhampton North East remembers from the home with her parents that she described, they tend to live there longer, and that is good for building stronger communities. In many cases, it is also more affordable than buying a home in the conventional way. A report published by Lloyds Banking Group in 2013 concluded that self-builders can save between 20% and 25% on the cost of an equivalent home on the open market—a crucial saving for many looking to get on the housing ladder. That brings things up to the levels we are talking about with the new starter homes programme under the next Conservative Government.
There are wider benefits too. A strong custom-build sector brings new opportunities for medium-sized and smaller house builders, as well as for housing associations that are looking to diversify their offer. We know this because the Federation of Master Builders and the National House Building Council have found that most smaller builders want to do more custom-build projects. More housing associations are now looking at the option of custom build. It presents a huge opportunity.