South East: Development land sales high

Savills south-central development team has reported an exceptional start to 2021, having secured the sale of 15 sites in the first two months alone.

The team, which has bases in both Oxford and Reading, operates across a core arc reaching from the Thames Valley up through Oxfordshire into Gloucestershire and across towards Bedfordshire.

These remarkable first two months are aligned with some of the strongest results the team has seen in recent years. These deals follow a robust year for development land sales in 2020, during which the team recorded 27 deals at a total value of £207 million.

Jamie Willis, associate in Savills south-central development, comments: “Last year’s sales figures demonstrate the resilience of our market in uniquely challenging circumstances.

“Moving into 2021 we have already seen a notable increase in demand for sites, particularly for family housing and stand-alone schemes. The strength of the regional housing market in the second half of last year has given land buyers more confidence, while the high sales rates have depleted housebuilders’ stock, meaning land replenishment is set to become a key fixture this year.”

Tim Watson, director and joint head of the team, adds: “2021 is likely to be a complex and uneven year, however, the momentum we have seen so far – both in terms of completed and forward sales – is encouraging. With housing delivery at the forefront of the government agenda, we anticipate another good year for land sales.”