2
Aug
Land values 'are unlikely to fall any further'
Increased interest from house builders may mean that further
substantial falls in land values will be very unlikely, forecasts
indicate.
The latest residential market view from commercial real estate
specialist CB Richard Ellis shows that land values are nearing the
bottom of the market and builders and land bank investors are
becoming interested in strategic land sites again.
Head of residential research Jennet Siebrits said that buying land
requires the investor to take a medium-term view of the housing
market which takes into account future falls.
"It is likely that land values are at the very least nearing the
bottom of the cycle, so further falls going forwards are not
expected," she said.
In related news, website FindaProperty.com recently reported that
the recent increases in land registry fees are unlikely to have a
great impact on the housing market, given the other costs incurred
when buying or selling a property.
