Demand for building plots
THE demand for plots is increasing as developers work through their land banks more quickly than at any time since the end of the boom in 2007-08, say Savills.
Land with planning permission held by the top eight housebuilders fell by around 100,000 plots between 2007 and 2012, as buying slowed and existing stocks were built out. In 2009, the volume of permissioned land held by the top eight peaked at held 7.5 years worth, In 2012, permissioned landbanks declined to 5.3 years supply.
Part of the challenge, say Savills, lies in bringing forward sites owned by landowners and the public sector. Growing demand and investment will help unlock this.