As I\’ve Said

It\’s not so much that the value of houses changes, but that the value of the permission to build one does.

Residential building land, one of the core assets of most housebuilders, plummeted in value by 20pc in the first six months of the year and could fall by up to 50pc before the current slump is over.

Research by estate agent Savills shows the value of brownfield sites, down 19.8pc, and greenfield sites, down 22.5pc, fell by roughly four times the rate of the housing market as investors deserted the sector.

1 thought on “As I\’ve Said”

  1. Yup, if the early 1990s are anything to go by, land values will fall by 80% to 90% from their 2007 peak. Which will make the property developers who bought Walthamstow greyhound stadium look pretty stupid.

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