Residential development land prices edged up in the first three months of the year across England and Wales, reflecting the small improvement seen in average house prices across the UK.
There are signs that more planning consents are coming through on some developers’ structural land banks. This is a result of challenges faced by some local authorities in achieving an ongoing supply of sites sufficient to provide five years’ worth of housing – a requirement of the new National Planning Policy Framework (NPPF). This rise in consents means supply is less constrained than it was this time last year.
Source : Knight Frank