Land success for Connells as house builders increase activity
11 May 2010
The land market has turned a corner in 2010, according to Connells Land & Planning team which today announces it concluded land deals worth £40 million in the first quarter of this year.
The result comes hot in the heels of a survey by Markit/Chartered Institute of Purchasing and Supply* showing that house building activity in April reached its highest level since the recession with developers resuming projects to meet increasing demand from homebuyers.
“We are delighted with the volume of land deals completed since the start of this year, not least because it shows the industry is now moving in the right direction,” says Iain Berry, Regional Land & New Homes Director for Connells. “We know from our estate agency branches that there is a marked increase in the number of people registering an interest to move home this year and developers need to act quickly if they want to take advantage of this surge in demand.”
According to the recent Markit/Chartered Institute of Purchasing and Supply survey, which works on an index where 50 is flat growth, construction activity in April had risen from 53.1 to 58.2. Residential building has risen to 60.3 on the index, its highest level since August 2007.
The Connells Land & Planning team, which specialises in land disposal and acquisition as well as appraisals and valuations, is urging private land owners looking to sell this year to come to market at soon as possible. “There is growing confidence across the housing market and we are quietly optimistic that an increasing number of plots will become available once this confidence begins to infiltrate the land owner community,” Iain explains.
“Land is currently in high demand, so we would urge anyone looking to sell in 2010 to get in touch now to discuss your options,” says Iain.
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Notes to editors
* The Chartered Institute of Purchasing and Supply, 20 April 2010
About the Connells Group:
Founded in 1936, the Connells Group, a subsidiary of the Skipton Building Society, comprises 470 estate agency branches and is the second largest wholly owned estate agency network in the UK. In addition to operating under the Connells brand, which comprises around 150 branches, the Group trades under other well-known local names including William H Brown, Sharman Quinney, Fox & Sons and Barnard Marcus. As well as residential property sales the Group is involved in a comprehensive range of housing related activities including land and new homes, lettings, surveying, mortgages, conveyancing, relocations, asset management and auctions. The Connells Group has been named Best Large Estate Agency at the Estate Agency of the Year awards for four of the past six years. For more information, please visit www.connells.co.uk