Ur­ban land value sees rapid fall

Yorkshire Post - Property - - PROPERTY -

THE rate of growth in English res­i­den­tial de­vel­op­ment land val­ues slowed rapidly in the fi­nal quar­ter of 2010.

Green­field land still man­aged a rise of two per cent dur­ing the pe­riod Oc­to­ber to De­cem­ber, but English ur­ban land val­ues fell by one per cent and in Greater Lon­don the fall was more sig­nif­i­cant at -2.5 per cent.

The only ur­ban mar­ket which avoided price falls was the prime Lon­don mar­ket.

Liam Bai­ley, Knight Frank’s head of res­i­den­tial re­search, said that fund­ing prob­lems con­tinue to pro­vide ma­jor dif­fi­cul­ties for de­vel­op­ers but added land trans­ac­tions are likely to rise as sup­ply from re­ceivers be­gins to edge higher.

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