17 Feb

Property developers keen to acquire land

Property developers keen to acquire land

New figures show that many house builders are looking to secure land for future developments.

The latest survey from Savills reveal that 76 per cent of the locations monitored in the UK experienced positive market sentiment during the last three months of 2013 - up by 69 per cent compared to the previous quarter.

There was also an increase in closed deals with 68 per cent of green field locations in the last quarter of the year as developers seek to boost housing supplies to meet demand.

Increases in land price were strong in the south east of England, with green field values rising by 5.8 per cent. There was also good growth in Oxford and Sevenoaks as prices reached record levels.

Savills explained the economic recovery is helping to ensure more developers are confident about acquiring land and looking at larger projects.

There was also support for the government's Right to Contest scheme, which could lead to more development sites for property investors and sales for estate agents.

"This scheme will be driven by the public and therefore demand led. A convincing case for alternative use will need to be made, with viability at its core. Such sites should be well positioned to deliver new housing supply," said Paul Tostevin, residential research associate at Savills.ADNFCR-1222-ID-801694017-ADNFCR

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