Rising demand for land in regional cities
■ Regional cities are seeing increasing land values as demand for sites grows. Land within Birmingham, Manchester and Glasgow is in high demand with urban land values growing by 15% or more over the last year. Build to Rent, regeneration and infrastructure improvements are at the heart of the growth.
■ Competition for land is increasing in the Midlands as South East based housebuilders expand into these strengthening markets.
■ Within London, demand for land is strongest where new build values are less than £1,000 per square foot. New housing supply above £700 per square foot is forecast to meet demand over the next five years but those with values lower than £500 per square foot will continue to be the most undersupplied.
■ Land in central London is in lower demand as fewer prime residential sites are starting and occupier demand for office space remains uncertain.
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