Clifton Homes, the company behind several leading development land websites, reports that a boost in the housing market is helping drive a new impetus in demand for development land with a strengthening in values.
The Royal Institution of Chartered Surveyors (RICS) reports a net balance of 45% more respondents predicting sales would rise rather than fall, against 36% in May, the highest proportion since the index began in 1999. It comes after property website Rightmove said it would double its prediction for growth in asking prices this year to 4% and mortgage lender the Halifax said property prices were rising at their fastest rate for three years.
As Jonathan Amos, Managing Director of Clifton Homes explains; “Government initiatives to boost lending and positive news about the economy have helped to boost confidence in the overall property market from land upwards.
“UK land prices have reached a record of £6,421 an acre, with UK farmland prices also reaching record highs, and are set to accelerate gains despite a potential rise in the supply of land on the market.”
However, Jonathan Amos adds; “At any time it is always those with a realistic view of their land value and a clear understanding of any issues involved that achieve the quickest sales at the right level.”
For more information on selling or buying development land, plus associated advice, visit; www.landvaluer.co.uk