Building plot prices

[foxeasy]

Hello I'm a first time poster here so how are you all.... well i trust.
Anyway down to bussiness
Would anybody be able to give a rough estimate on land prices in the Andover Hampshire area. I have approximately 2 acres and don't know whether to do a self build of 6 houses or sell the lot off in one hit.
Any advice would be most appreciated from those in the know.

Thanks
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lynda modearator

note forum rule 9

 

[noseall]

get the planning permission for the houses then go a percentage with a developer on the profits.

 

[Moz]

foxeasy
I know a local Manc property auction site do an estimater for selling building land , try a local firm ,
hope this helps

 

[^woody^]

Land does not have a price as such.

It depends what you can do with it, which in turn determines its value. So you should be talking to your local planning dept, and once you know you can do a residual calculation which will give you the land value

 

[TRUSTME]

Land sales and planning are an headache.

Big builders talk-the-talk but very few produce the cash unless your land is so cheap to buy they can't get to the bank fast enough to pay you out. Some major builders deal in land - they'll tell you they are going to build houses on it, then as soon as the Option to Buy is signed they assign it to others for a profit. You sell it on paper to A whose got a good name, and A sells to B whose trouble from day one, and he sells it to C whose broke.

The advice is to insist on a 3 year max on your option [assuming a options involved] no assignment of it unless you approve the sub-purchaser, no re-valuations by a so'called independent surveyor [the scenario here is they offer you £3m, you jump in and say YES, YES, YES, and fail to appreciate the small print clause which says "On exchange of contract I/ we agree to the market rate pertaining locally then and guess what your independent surveyor says its only worth £1.1m. and the sharks have got you, and try getting out-of -it? A good land deal is not worth the paper it's written on to the seller, and a rogue buyer/builder can skin you alive using the law.

 

[HERTS P&D]

6 YEARS OLD.

 

[TRUSTME]

My reply and information is correct even today, and ten years from now. See above post. Builders have a land dealing dept, they buy land that they are not really interested in for themselves - then sell it on for a profit.

If Wimpey make you an offer and fix the price sellers are impressed enough to sign on the dotted line often at a low price, yet if Joe Bloggs & Son were to make this offer the seller would assume he was trying to purchase this land on the cheap and back off.

Something I failed to mention firms like Wimpey and the other big 10, are making it an Land Option Condition that the seller picks up the tab for both seeking and obtaining planning permission, repayment for the 'social gifts to Councils', and this deduction which can be 1/3rd of the agreed price comes off the sellers gross. To obtain planning now you have to give the local council a boys club, so many cheap houses for yob buyers/ tenants, and pay for road widening costs or drains to keep the voters happy, and sellers lose a huge chunk of their expected selling price income, whilst the builders lose about 20% of their expected profit. Result - no more houses are being built and builders are for all practical purposes out-of-the-market.