Long-term interest in land for developments persists

The costs and risks associated with the development of residential sites, particularly in the present economic climate, meant that sites in excess of 50 acres are the most sought after, it has been claimed.

Writing for Farmers Weekly Interactive, Andrew Shirley, the head of rural property research at Knight Frank,

The housebuilding sector is going through tough times currently. Recentfigures from the National House-Building Council found that 15 per cent fewer homes were built in the quarter ending July, compared to a year before.

Subsequently, the downturn has impacted on the value of land.

Mr Shirley claims that despite the current economic gloom, investors are still on the lookout for land that can be used for housing developments in five or ten years time when the market has improved.

In related news, retail giant Asda has begun taking control of housing schemes abandoned by housebuilders, reported Property Week.

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