Property specialist also lists most in-demand areas for development land
Over half of all available land plots listed for sale across England have already been snapped up by developers, property purchasing specialist HBB Solutions has revealed.
Analysis of current land plot stock listed for sale showed that demand for land ready for development sits at 54%, with plots already receiving an offer or seeing that offer progress.
The most in-demand area for development land is Dorset, where a huge 75% of all plots listed for sale have already been taken.
Bedfordshire also ranks high with developer demand at 71%, along with Herefordshire (69%), Shropshire (69%), North Yorkshire (68%), Essex (68%), West Sussex (67%), Northamptonshire (67%), Norfolk (66%) and Leicestershire (66%).
Tyne and Wear is home to the lowest demand for land plots, with developer demand currently at just 30%.
This demand for available land also sits below 40% in Durham, Surrey, Berkshire, Merseyside, Bath and North East Somerset, London, and Lancashire.
Chris Hodgkinson, managing director at HBB Solutions, said that it is hardly surprising that developer demand for land plots is very high.
“This means more competition when it comes to securing a plot and it’s fair to say that finding a cheap plot is the property equivalent to the pot of gold at the end of the rainbow. However, a strategic and methodical approach can pay dividends in the long run and there are a few key things to consider when looking for that next piece of developable land,” he said.
“First of all, set out your specifications so you have a clear plan of action that can be easily adjusted depending on what is available. Research prior planning history for both your desired plot and other plots or developments within the local area to give you an idea of what you might come up against,” Hodgkinson shared.
“When you do find that ideal plot, be prepared to pay for it and have your financing in place, as well as the right team of professionals to help you execute.”
