2 Aug

Land values 'are unlikely to fall any further'

Land values 'are unlikely to fall any further'

Increased interest from house builders may mean that further substantial falls in land values will be very unlikely, forecasts indicate.

The latest residential market view from commercial real estate specialist CB Richard Ellis shows that land values are nearing the bottom of the market and builders and land bank investors are becoming interested in strategic land sites again.

Head of residential research Jennet Siebrits said that buying land requires the investor to take a medium-term view of the housing market which takes into account future falls.

"It is likely that land values are at the very least nearing the bottom of the cycle, so further falls going forwards are not expected," she said.

In related news, website FindaProperty.com recently reported that the recent increases in land registry fees are unlikely to have a great impact on the housing market, given the other costs incurred when buying or selling a property.

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