Residential land values remain unchanged
15th May 2012
Residential land values in the UK remained unchanged in the first three months of 2012, following a 1.3 per cent rise in 2011, according to the latest analysis by Knight Frank.
A new report from the organisation shows that prices remained stable across the UK in the first three months of the year, which reflects the wider movement in house prices, which have also remained broadly static.
Overall, prices fell in the north-west between January and March, while values in the West Midlands and Greater London picked up, though prices in all other regions remained unchanged.
The report showed that housebuilders reported viewings and sales both being positive across the board during the start of the year, suggesting the market is continuing to recover from the lows seen in 2009.
Supply continues to remain limited, which a reflects a slowdown in the number of landowners applying for planning in 2009 and 2010, though developers and investors alike remain keen to secure schemes.
The study also revealed that prime central London property saw a relatively flat market from a pricing perspective in the first quarter, though this contrasted with demand as buyers continued to demonstrate a desire for well priced opportunities.
Posted by Staff Writer: Ewan Robertson
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