UK land prices 'rocket'
The price of residential land in the UK has
increased a staggering eight-fold over the last 20 years.
A shortage of residential land combined with buoyant demand for new properties
lies behind rising prices says the Halifax survey. |
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Unsurprisingly, the most expensive land in the UK is in London
and the South East and the cheapest in Wales and the North.
However, of late prices have been rising faster in lagging areas,
and the gap closing.
Residential land has proved an even better investment during
the last 20 years than property - with house prices rising 306%.
Long term, land supply shortages are likely to continue and
as a result house prices continue to grow.
Region by region
The price of a hectare
of London land - equivalent to two and a half acres - now stands
at nearly £5.5m.
Source: Halifax
In 1983, a hectare cost just £759,000, meaning land prices in the capital
have risen by 624%.
Land prices in Wales have grown the fastest.
In 1983, a hectare
cost just £85,000. By the end of 2002,
this had soared to £980,000 - a 1,053% increase.
Across the UK, land
prices have risen from £174,000 a
hectare to nearly £1.6m - an increase of 808%.
Independent land investments are not tied to any
one developer or company, so we can provide independent information
on land for sale in the UK.
The Smart Money has been buying land
for years
Land available is for investment purposes
and not self build
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- The Smart Investment
Land
available is for investment purposes and not self build
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Strategic Land Acquisitions Ltd
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London SW1W 9BJ
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