Home    Land for Sale     Sell Your Land    Land News    Land Articles     Planning Guide     Land Agents

Residential Land

Residential LandMost people believe that residential land for sale in the UK is land with planning permission where a dwelling can be erected but in truth, it is not. Instead, residential land is land located within an area specifically designated for residential building or land found within urban boundaries. Keep in mind when looking for residential land for sale in the UK that it may or may not be granted planning permission. Instead, this is a site located on residential land by definition. For example, Brownfield land could be considered residential land, as long as it resides in the right area.

Recently, small unites of residential land for sale has been made available in areas where homes and development already exists. Because residential land for sale in the UK is so costly, a large number of homeowners are starting to sell of portions of their garden, taking the money made and moving. In fact, this practice has become so popular that finding homes with this option are becoming fewer and fewer. Taking it one-step further, some council permit more homes to be built on an existing site where a garage once stood.

The bottom line is that residential land for sale in the UK has a high supply and demand issue. The number of people looking for land is so vast, particularly in the southeast areas of the country, that cost is skyrocketing. Because of this, we also see people choosing to self-build, as a means of saving money. However, while this option is viable, you need to consider some things.

For starters, the land would need to be acquired but again, prices are high. To give you an idea as to the price of land, in Wales and England, residential land has risen by 80%. The interesting thing about this is that while land has increased so dramatically, the cost of housing has only increased 30%. Of all areas of the UK, London is by far the most costly. There, a hectare of land would easily cost you £5.5m. However, if you were to look at residential land in Humberside or Yorkshire, you would see the cost just £870,000 - big difference.

The thing to remember is that the cost of residential land in the UK is not expected to drop. The only possible way would be intervention by the Government but this is at this time, unlikely. For this to happen, the Government would need to transform Greenfield land into residential thank but again, the possibility of this ever happen is slim to none. Therefore, we can expect to see residential land becoming scarcer and scarcer with prices climbing.

Because of the housing price boom seen in the UK over the past five years, there has been some levelling of land values over the areas of Wales, England, and Scotland. Even so, the price of land in the northeast is now seeing growing of more than 300% with the southeast around 140%. Just because the number of land transactions is limited, that does not mean the demand has dropped.

Most transactions of residential land for sale in the UK involve small unites of land. On these unites, one, possibly two dwellings can be erected, primarily by local builders or self-builders. Because of the imbalance between supply and demand, government authorities are now looking into ways to use Brownfield sites, transforming them into Greenfield sites on which housing can be built. The following shows you a brief breakdown of a few areas in the UK for residential land.

Northeast

The area in and around England has seen the largest residential land grown with stabilised values over the past year.

Northwest

For the North Cumbria area, the market is calming down somewhat. Today, few residential sites are available for development. In Eden, little new development is occurring. Then for Carlisle, Brownfield developments are being focused on, again to transform to Greenfield sites. In South Cumbria, prices of new homes are restricted to 65% of full market value and in Kendal, a newly built block of flats are being changed to affordable housing sites.

Residential land for sale in Lancaster has seen low sales and in Blackpool, we see a shortage of building land, specifically in the past six months. In Lancashire, we see strict planning controls when it comes to residential developments in that only sites considered suitable for key worker or social housing is granted. The price of a hectare in Blackburn has now reached £1.8 million, which is not one of the best places for residential value.

In the greater Manchester area, residential land sales have been very slow, especially in the past six months. However, the minimum value of residential land is £1.2 million per hectare. An increase in building sites on residential land is increasing in areas such as Oldham and Rochdale while the market is booming in Vale Royal Council, Macclesfield, and Congleton areas, just as with Nantwich Borough and Crewe Council areas. Finally, the Chester area, the planning authority has seen no new sales of residential land within city limits with the housing market showing a slow-down.

-  James M

View Land for Sale in:

Bedfordshire | Berkshire | Buckinghamshire | Cambridgeshire | Cheshire | Cornwall | Devon | Derbyshire | Dorset | Durham | Sussex | Essex | Gloucestershire | Hampshire | Herefordshire | Hertfordshire | Isle Of Wight | Kent | Lancashire | Leicestershire | Lincolnshire | London | Middlesex | Norfolk | Northamptonshire | Yorkshire | Oxfordshire | Rutland | Scotland | Shropshire | Somerset | Staffordshire | Suffolk | Surrey Warwickshire | West Midlands | Wales | West Sussex | Wiltshire | Worcestershire

 

 

Land for Sale