Tight supply bolsters resi development land values

Development land values are rising again after two years of no growth; "higher costs associated with building energy efficient and sustainable homes are putting pressure on land values," says Savills.

"Many new [residential development] sites are being soft marketed to test the appetite in the market," reports Savills, "and some have been launched now avoid competition with other sites later in the…

Savills saw more new-build homes reservations in Q3 this year than in any previous quarter on record, while development land buyers focus on smaller sites.