News
| An Outside View |
| Posted on Aug 13, 2009 |
| Richard Wain Director Hawksmoor Planning and Development Consultants There has been a noticeable increase in enquiries from housebuilders in the last couple of months, who have been seeking land with the benefit of planning permission. Many housebuilders currently have a shortage of “short term” land, and even if a site is purchased today, it will still be 9-12 months before sales can commence on that site. This is a positive sign as it would indicate that we have perhaps reached, or are close to reaching, the bottom of the market. At the present time, landowners are reluctant to release their land, given the significant fall in values and given the lack of transactions involving land, it is very difficult to predict where the current market is in terms of land values. Holding costs and the ability to generate cash will determine how long landowner’s can hold on. In addition, estate agents would also suggest that viewings and sales of property have increased gradually during the course of 2009, which all points towards a positive outlook. However, it remains a buyers market in terms of residential property…Whilst this evidence would suggest that a recovery in the property market is on the way, this must be tempered slightly by the wider economy and the remaining uncertainty in many sectors, which is leading to higher unemployment. |
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