Development land values soar across the UK
The UK has seen the value of residential development land soar as a result of an exceptionally strong housing market coupled with strong demand for land and a lack of immediate sites.
This is good news for those looking to sell their land.
UK greenfield, as well as urban values, increased by 1.7 per cent and 1.8 per cent between April and June 2021 respectively, marking the strongest growth in greenfield land values since 2014.
This is just what potential sellers want to hear. It shows confidence in the current land market. There is still a shortage of supply of development land across the country driving competition and upward pressure on values.
More new sites have been brought to the market over the last quarter but there is still a scarcity of immediate land available to buy relative to the level of demand for sites.
Richard Corbett, Partner, Roger Parry & Partners
