Decline in value of greenfield land
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