Rising demand for land in regional cities.
Regional cities are seeing increasing land values as demand for sites grows. Land within Birmingham, Manchester and Glasgow is in high demand with urban land values growing by 15% or more over the last year. Build to Rent, regeneration and infrastructure improvements are at the heart of the growth.
Competition for land is increasing in the Midlands as South East based housebuilders expand into these strengthening markets.
Within London, demand for land is strongest where new build values are less than £1,000 per square foot. New housing supply above £700 per square foot is forecast to meet demand over the next five years but those with values lower than £500 per square foot will continue to be the most undersupplied.
Source : Savills