De­cline in value of green­field land

Yorkshire Post - Property - - PROPERTY NEWS -

TREND: English green­field land val­ues de­clined by 4.1 per cent last year, while those in prime cen­tral Lon­don fell by 2.5 per cent.

How­ever, ur­ban brown­field land val­ues con­tin­ued to buck the trend ris­ing by 5.5 per cent, with strong growth seen in Birm­ing­ham, say Knight Frank. Ian Mar­ris, joint head of Res­i­den­tial De­vel­op­ment, says: “The mar­ket for land in prime cen­tral Lon­don is show­ing signs of con­di­tions last seen in 2010 where, af­ter two years of falls, the savvy in­vestors re­turned to the mar­ket and bought in ex­pec­ta­tion that pric­ing was reach­ing the bot­tom. We can cer­tainly see value re­turn­ing.” www.knight­frank.co.uk

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