A SHORTAGE in the number of sites available for property development is putting upward pressure on land prices, according to local land experts Shipways.
Despite increased demand for new homes in 2011 and into this year, the agent has seen developers and house builders struggling to find suitable sites, putting land owners looking to sell in a strong position in 2012.
Bryan O’Mahoney, land manager for Shipways, said: “The demand for new build properties rose exponentially in 2011.
“Indeed, as part of our parent company, we saw a 28 per cent increase in the number of new homes sold last year, a figure which rose as high as 44 per cent in quarter two when compared to last year’s new homes sales.”
He said the demand has created a flurry of activity from house builders who now need sites for development.
Bryan added: “For those looking to sell land, whether it is a small site for one property, or a larger site for numerous dwellings, now is a great time to come to market as premium prices are being paid.”
Housing market activity in 2012 has remained buoyant with numbers of first-time buyers and buy-to-let investors showing no signs of abating.
Developers are responding to this, as well as changes to the Government’s local planning strategy, in order to take advantage of increased activity and greater availability of mortgage finance.
“We are urging anyone who is thinking of selling land, especially land with planning consent, to get in touch and discuss their options,” Bryan added.
“There are great opportunities in the land market currently, but sellers should seek professional advice to ensure they are getting the best deal for them.”
If you are interested in discussing a land sale or acquisition, and need planning advice please contact Shipways’s resident land expert on 07768 557639 or email bryan.o’firstname.lastname@example.org