Developers push up land values
Competition for development land is starting to boost values, but a gulf is emerging between small and larger sites and those in the North and South, say Savills.
The average value of residential development land showed growth over the past three months. Greenfield land values rose by an average of 3.2 per cent and urban land values by 3.8 per cent, taking annual growth rates to 16.6 per cent and 14.1 per cent respectively.
Brownfield sites in the North continue to slide, down –2.2 per cent in the quarter.