Savills central development land team, which covers Oxford, Reading and Cheltenham, acted on over £150 million of land sales in the region during 2018. This total represents the sale of 1,674 individual plots across 30 sites.
According to Matt Davis, development director in the Oxford land team: ‘”Despite an uncertain economic outlook, in 2018 we saw continued interest from the housebuilder market for both immediate and long term development opportunities. In particular, the major housebuilders, both plc and privately owned, need to ensure that they maintain a pipeline of supply for their businesses to develop out over the short to medium term.”
Ed Keeling, development director at Savills Reading, added: “These results display the resilient land market that we operate in geographically. In addition to developer demand, there is of course still a shortage of housing coming through across much of our region, which provides the ingredients for development opportunities. While we expect 2019 to be an equally testing market in which to transact, we expect to see a continuation of such demand.”