2022-05-12-莱坊-UK_Res_Dev_Land_Index_Q1_2022_3页_1mb

报告摘要

Knight Frank Residential Development Land Index Q1 2022 Summary

Market Overview: Residential development land prices saw an increase across various segments in Q1 2022. Greenfield land prices rose by 5% quarter-on-quarter and 22.8% year-on-year. Urban brownfield land values increased by 0.4% Q/Q and 3.3% YoY. Prime Central London (PCL) land values increased by 2.5% Q/Q and 2.5% YoY, the first quarterly rise since Q3/2020.
Land Availability: Availability of suitable land remains a key challenge. 44% of developers rate the market as 'Very Limited'. Q1 saw land transactions increase significantly (55% YoY), driven by reduced logistics competition initially but now facing land constraints. BTR demand remains robust.
Cost Pressures: "Build cost inflation" and "supply chain disruption" were cited by 40% of survey respondents as the biggest Q2 impact factors for housebuilding. Other key challenges included logistics competition, new environmental regulations (nutrient neutrality), planning delays, and material cost pressures.
Regional Differences: Demand is strong for greenfield development sites outside London, particularly where house price growth is less intense. London PCL land saw a moderate increase (+2.5% YoY), while non-London brownfield land prices were up slightly (+0.4%). Greenfield in London rose more (+5% Q/Q).
Next Quarter Focus: Looking ahead to Q2, 40% of respondents believed ‘build cost inflation’ and ‘supply chain disruption’ would have the biggest impact. Planning delays and securing land were cited as significant ongoing issues.
Factor Importance Assessment (1st Qtr):
- Land Availability: Rated by 56% as a factor impacting Q1 land transactions.
- Planning Delays: Identified as a key issue affecting many businesses.
- New Environmental Regulation (Nutrient Neutrality): Identified by respondents as contributing to land price competition.