High de­mand for land is push­ing prices up

Northants Evening Telegraph - Property - - FRONT PAGE -

Ashort­age in the num­ber of sites avail­able for prop­erty de­vel­op­ment is putting up­ward pres­sure on land prices, ac­cord­ing to lo­cal land ex­perts Wil­liam H Brown. De­spite in­creased de­mand for new homes in 2011 and into this year, the lo­cal agent has seen de­vel­op­ers and house builders strug­gling to find suit­able sites, putting land own­ers look­ing to sell in a strong po­si­tion in 2012. “The de­mand for new build prop­er­ties rose ex­po­nen­tially in 2011,” says Bryan O’ma­honey (pic­tured), land man­ager for Wil­liam H Brown. “In­deed, as part of our par­ent com­pany, we saw a 28 per cent in­crease in the num­ber of new homes sold last year, a fig­ure which rose as high as 44 per cent in quar­ter two, when com­pared to last year’s new homes sales. “This de­mand has cre­ated a flurry of ac­tiv­ity from house builders, who now need sites for de­vel­op­ment,” Bryan con­tin­ues. “For those look­ing to sell land, whether it is a small site for one prop­erty, or a larger site for nu­mer­ous dwellings, now is a great time to come to mar­ket as pre­mium prices are be­ing paid.” Hous­ing mar­ket ac­tiv­ity in 2012 has re­mained buoy­ant, with num­bers of first-time buy­ers and buy-to-let in­vestors show­ing no signs of abat­ing. De­vel­op­ers are re­spond­ing to this, as well as changes to the Gov­ern­ment’s lo­cal plan­ning strat­egy, in or­der to take ad­van­tage of in­creased ac­tiv­ity and greater avail­abil­ity of mort­gage fi­nance. “We are urg­ing any­one who is think­ing of sell­ing land, es­pe­cially land with plan­ning con­sent, to get in touch and dis­cuss their op­tions,” Bryan says. “There are great op­por­tu­ni­ties in the land mar­ket cur­rently, but sellers should seek pro­fes­sional ad­vice to en­sure they are get­ting the best deal for them.” If you are in­ter­ested in dis­cussing a land sale or ac­qui­si­tion, and need plan­ning ad­vice, please con­tact our res­i­dent land ex­pert on 07768 557639 or email: bryan. o’ma­honey@se­quence­home. co.uk.

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