Seize the Day: Plot Prices Continue To Fall, But at a Slower Rate

Just-released data gathered from the plotfinder.net database of individual building plots for sale in the UK shows that prices continued to fall in the first three months of 2010 — but at a lower rate than in 2009.

The survey, which tracks the price of thousands of currently-available individual building plots, shows that the average plot price in Britain now stands at £210,909 — down from £211,125 in January 2010 and £219,496 in October 2009. This marks a six-month decline in average prices of 3.91%.

This provides the first evidence that the fall in building plot prices is beginning to bottom out. Vicky Baylis, head of plotfinder.net, comments: “The spring is traditionally a time of strength in the wider housing market and there is also a sense that people are beginning to think about self-building again in greater numbers. Funding is getting easier, and the climate is beginning to look much more favourable.”

“It really does make sense for anyone waiting for the right time to buy a bargain plot to think about getting back into the market.”

The area that appears to be bucking the trend and rising fastest in terms of average prices is the south-west, where the average price of a plot is now £245,653 and prices have risen some 7.11% since October 2009.

Issued: 23.05.10

For further information:

Vicky Baylis
Plotfinder.net
T : 01527 834428
Email - click here

Notes to editors:

plotfinder.net is the UK’s leading subscription-based website for anyone looking for an individual building plot or renovation opportunity. Subscriptions start from £10 for three months access to a constantly-uploaded database of over 6,000 plots that includes 100s of private sales unavailable on the rest of the web.