JLL: Resi land deals increase

Residential land acquisitions by the volume house builders in the North West more than doubled from 13 to 28 deals in the first half of the year compared to the same period in 2011, according to Jones Lang LaSalle.

Sites acquired stretch from Clitheroe to Wrexham and total 170-acres, with the capacity for 2,500 units to be developed.

Kieran McLaughlin, director of Jones Lang LaSalle, said: "The first half of the year has been extremely active, which is a clear sign of increased confidence in the sector. It's unsurprising that the bulk of the larger deals have been undertaken by the volume PLC house builders but we are seeing privately owned regional developers becoming increasingly active.

"In terms of values, sites in affluent areas are commanding up to £1m an acre but land values begin to tail off significantly for secondary locations.

"A number of the large house builders are reporting strong financial results, however there is unlikely to be any meaningful improvement in house prices and levels of market activity due to instability in the financial sector."

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