Thursday, 24 November 2016

House Building Land In UK Affected By Developers Post Brexit Sentiment

Greenfield development land prices fell by 0.4% in the third quarter of 2016, meaning they have fallen by 2.6% between April and the end of September and by 3.9% over 12 months. The index data also shows that in prime central London land prices are down by 10.3% on the year, and are now at around the same levels as June 2014. Meanwhile, prices for urban brownfield land values remain unchanged and are up 6% on an annual basis, mirroring the outperformance of housing markets in urban centres where average capital values mean there is a wide pool of demand which is not being matched by supply. The report says that the declines reflect the uncertainty around Brexit and the potential resulting impact on the UK economy. Read more on Property Wire.

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