Self Build and Land Market Update

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Commentary
Land transactions and prices are normally reported on an bi-annual or annual basis. There are many different types of land, ranging from agricultural and woodland to development land and self build plots. Farm land and self build continue to grow in the first half of 2008, but as the credit crunch started to hit, demand began to fall in the second half of the year.

However,  2009 is proving to be one of the best year's to self build with enquiries up at BuildStore by 39%. This is due to a fall in plot prices, increased labour availability and negotiations to purchase materials. New lenders who are looking for more mortgage business are starting offering Self Builders mortgages via BuildStore.

New lenders include Bath, Melton Mowbray Building Society and Ipswich. All offer mortgages to fund land and materials purchase between 75 and 95% of the costs. Accelerator mortgages mean you can live in your own home and build your new one at the same time! READ MORE

Headline Statistics
There are various statistics on land prices, the most useful on farmland is from Savills who track the interest/activity in farmland in general.

Farmland Values

+27%*

Jan to Sep 08-1.4%*Jan to
Mar 09 
Percentage of Farm Buyers

43**

Jan to Sep 08N/CJan to
Mar 09
Residential Land Prices (Greenfield)-48%Fall from Dec 07SavillsJan 09
Residential Land Prices (Brownfield)-49%Fall from Dec 07SavillsJan 09
Self Build Plots estimated value

-20%

Fall from 2008PlotsearchJun 09
Self Build Mortgage enquiries+39%Growth year on yearBuildStoreJun 09

*This growth was from the first two quarters, quarter three showed a small fall of 1.6%.
*See Savills for latest quarterly report
**Fall from 53%

Useful Resources
BANK OF SCOTLAND  RICS   SAVILLS   VOA  PLOTSEARCH

For more market commentary on a national or local level:-
Contact Kate Faulkner on 07974 750562 or 0845 838 1763. To read more about Kate, please visit ABOUT US, see Kate on video and for media appearances, contact:

Sylvia Tidy-Harris
STH Management                    
Tel  +44 (0) 1530 263221
Mob  +44 (0) 7970 646872
Fax: +44 (0) 1530 264018

 

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