Approximately 54% of all available land plots listed for sale across England have already been snapped up by developers, research from property purchasing specialist, HBB Solutions, shows.
HBB analysed current land plot stock listed for sale and what percentage had already gone under offer or sold subject to contract.
The research shows that nationally, demand for land ready for development sits at 54%, with over half of all plots already receiving an offer or seeing that offer progress.
Where is developer demand at its highest?
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 follows close behind at 67%, then Northamptonshire (67%), Norfolk (66%) and Leicestershire (66%).
Tyne and Wear is home to the lowest demand for land plots, with developer demand current 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.
Competition for land set to ramp up
Chris Hodgkinson, managing director of HBB Solutions, says the results are hardly surprising given that the nation is in desperate need of more homes.
“Of course, 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,” he comments.
“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.”
Hodgkinson advises developers to set out their specifications so they have a clear plan of action that can be easily adjusted depending on what is available. He also recommends finding out what land is available in the desired area and walking around it.
“Don’t discount brownfield sites, as they aren’t all derelict warehouses and factories,” he says. “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.”
“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.”