A lesser spotted announcement in the recent Budget was a commitment to ensure that empty lots on high streets — flats above shops and disused malls — could be transferred quickly to housing.
Urban development land values across the UK have continued to increase more than those for greenfield land, according to the latest research.
Urban land values increased by 1.5% in the fourth quarter of 2015, up from 0.2% in the third quarter, taking annual growth to 7.1% while greenfield land values increased by 0.7%, up from a fall of 0.1% in the previous quarter and year on year by 2%.
The latest residential development report from real estate firm Savills says that the increase in urban land values reflects a rise in demand due to an improved economy, stronger markets and increased viability.
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