Development land: a tale of two markets
Developers will be more reluctant to take a risk on land that does not have prior planning permission
While the urgent need to develop more housing has generated some actions by government and some developers, other developers are concerned that the slowdown in house price growth could add to the risks of buying and developing sites without planning permission.
This is reflected in two-speed trends in development land prices. Prime shovel-ready sites with feasible planning permissions are expected to see price growth continuing, especially in the commuter counties of Kildare, Meath and Wicklow...
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