New research from HBB Solutions claims that 54% of all available land plots listed for sale across England have already gone under offer or sold subject to contract to developers.
The results were devised by analysing current land plot stock listed for sale and what percentage had already been purchased.
Highest and lowest demand for land plots
The property purchasing specialist labelled Dorset as the most in demand location for development land as 75% of all plots listed for sale have already been purchased.
Following closely behind is Bedfordshire with 71% developer demand, Herefordshire (69%), Shropshire (69%), North Yorkshire (68%), Essex (68%), West Sussex (67%), Northamptonshire (67%), Norfolk (66%) and Leicestershire (66%).
In contrast, Tyne and Wear had the lowest demand for land plots, with developer demand current at only 30%.
Durham, Surrey, Berkshire, Merseyside, Bath and North East Somerset, London and Lancashire had demand for available land below 40%
Managing director of HBB Solutions, Chris Hodgkinson, concludes: “The nation is in desperate need of more homes and so it’s hardly surprising that given this strong demand, developer demand for land plots is high the length and breadth of the nation.
“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.”
“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.”
“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. Find out what land is available in your desired area and take a walk around it.”
“Don’t discount brownfield sites, as they aren’t all derelict warehouses and factories. 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.”