But with cheap land flooding the market and under-employed builders willing to consider work at knock-down prices, the self-build market is not only buoyant, it’s booming.

Disenchanted consumers are waking up to the fact that they can plan and build a home cheaply, but still make it to a far higher standard than they could otherwise afford on the open market.

While self-build houses currently account for only 10% of newly built houses, experts predict that the market will grow to 30%.

Tim Doherty, managing director of the National Self Build and Renovation Centre, one of the UK’s largest providers of specialist mortgages, land and building materials, said his firm was seeing a significant rise in interest.

He said: “There is a huge number of inquiries and activity. There is a growing acceptance that in these conditions there are bargains to be had.” And he added that the firm has seen membership numbers shoot up by 30% over the last year.

Doherty puts it down to the decline in the rest of the housing market. Small to medium-sized housebuilders have been unable to sell the homes they build. With no cash flow, they are forced to sell their land undeveloped, which means the market has become saturated and pushed prices down.

Consumers are able to snap up land at low prices, negotiate good rates with builders – who are also short of work in the crunch – and then build a house that is almost guaranteed to be worth more than the cost of building. Doherty estimates that self-build houses are immediately valued at least 20% more than the cost of building.

Mortgage lenders have noticed the interest and are in the process of making new financial products available. Doherty’s company is currently in negotiation with a firm he describes as “a household, high street name” to provide specialist mortgages through his company, something he claimed was proof of the sector’s future success.

The effect of this, predicted Doherty, will be a massive and sustained rise in the number of self-built houses.

He said: “The government said it needs to build 240,000 houses a year, but they are still 60,000 short of that target. These are government targets based on the changing face of the

British population, so for the first time in my 20-year career self-builds could have an enormous role in plugging the shortfall. Currently, 10%-12% of houses are self-built but I am predicting that could be pushed up to 20%-30% within five years.”

However, other news from the housing market is grim. Repossession rates during the first half of 2009 are 23% higher than a year ago and look set to rise as unemployment also climbs.

But nonetheless, brave souls are lining up to have a go at building their own home.

Peter Hall, of Scotframe, a company which sells the timber frames for self-build houses, is optimistic about the prospects for the self-build industry.

He said: “I have seen more inquiries of higher quality: the daydreamers aren’t there at the moment. There is no better time to be self-building and I think a lot of people have realised that.”

Gary Austin, 40, a train driver, has almost finished his second self-build project in Kelty, Fife.

He said: “By building your own house, you’re beating the system and getting an excellent quality house at a much cheaper price. The house we’re currently building has been valued at approximately £400,000, which is twice what we spent on it. It’s not for everyone though. You spend 12 months of stress at least, but it’s worth it in the end.”