In the market for a plot of land?

publication date: Mar 22, 2010
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books

In the market for a plot of land?

If you're thinking of self building this year, then you need to know the latest land prices! Land values across the UK went up and down in 2009! Farmland continues to outperform development ie building land, with Farmland going up 164% in the last decade, higher than prime London property!

"Cautious confidence" is returning to the land market with developers and speculators starting to buy urban land for development again. This is likely to impact at some stage on self build plots, so if you are thinking of buying land to build yourself, you do need to start investigating and preparing to make a decision this year.

Meanwhile land prices for self build is at an all time low. Supply was up by 50-60% in 2009, and Plotsearch has over 8,000 plots for sale. The average plot price is now around £130k, 25% lower than 2009 and 35% lower than 2008.

The average plot price in February 2010 is down 11% on the average price in February 2009 and approximately two-thirds of plots currently listed are exempt from stamp duty (ie £125k or less) READ MORE.

Meanwhile, lenders are starting to come back to the self build market with Bath, Melton Mowbray Building Society and Ipswich all having new products. All offer mortgages to fund land and materials purchase between 75 and 95% of the costs. BuildStore's Accelerator mortgage allow you to live in your own home and build your new one at the same time!

READ MORE for all the up to date land prices and statistics.

For tips on buying a plot of land and self building, take a look at some of our articles:-

For an answer to all your self build and land questions, tel 0845 838 1763 or contact us via email.

Need help with a property problem? Have a question? Why not call Designs on Property on 07585 897128 or Contact Us via email.
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