"Despite the wider economic landscape, there remains a robust appetite for the development of all land site types across England, but it’s certainly land-only and agricultural plots that are proving the most popular amongst investors and developers"
The latest research from Searchland analysed demand for development plots of all varieties across each region of England based on the proportion of all plots listed for sale that have already been sold subject to contract or gone under offer from developers.
Overall development plot demand
The research shows that demand for all available development opportunities is high in the current market, with 47% of all development plots already going under offer or being sold subject to contract.
It’s the East of England that ranks top with respect to this overarching demand for development opportunities, with current development plot demand levels at 54.5%, followed by Yorkshire and the Humber (52.9%) and the South West (50.5%).
Where demand is highest
However, when dissecting current market stock by the type of plot, the research by Searchland shows that it’s land-only plots that are currently most in demand. Across England, 48.4% of all land-only plots have already been snapped up, with agricultural and farmland plots also proving popular with current demand at 47.3%.
Residential development opportunities are the next most sought-after (39.4%), followed by industrial sites (37.2%) and finally commercial development plots (35.9%).
Demand by region
When breaking the data down by each region of England, the research by Searchland shows that land-only plots remain the most in-demand development opportunity across London (33%), the North East (34.9%), North West (44.7%) and South East (£48.5%).
However, across the South West (75%), Yorkshire and the Humber (75%) and West Midlands (75%), it’s farming plot opportunities that investors and developers have their sights firmly fixed on.
In the East of England, commercial plots are most in demand (55%), while in the East Midlands, it’s industrial sites (50%).
Mitchell Fasanya, Co-founder and CEO of Searchland, commented:
“Despite the wider economic landscape there remains a robust appetite for the development of all land site types across England, but it’s certainly land only and agricultural plots that are proving the most popular amongst investors and developers.
"This is hardly surprising given the clean slate that a land-only plot provides and the time and cost saved during the development stage as a result.
"It’s also become increasingly common for developers to look to the agricultural sector to secure land suitable for commercial projects, such as logistical sites and warehouse storage. This demand is predictably focussed across the regions with a traditionally more prominent agricultural DNA such as Yorkshire and the South West.
Mitchell adds: "But while demand remains high, the challenge facing developers is staying ahead of the game when it comes to identifying potential opportunities that suit their individual needs and being able to act quickly enough to secure them before their competitors.
"The good news is that, like much of the UK property sector, technology is helping to streamline this process, removing much of the heavy lifting during the laborious search process, so developers can concentrate on the more important tasks at hand.”
