Why are people investing in land in the UK
Why are people investing in land in the
It was around three years ago that the UK Land registry introduced the TP1 form. This opened up land investments to everyone. In the past only large development companies or very wealthy individuals could afford to by entire sites, but the introduction of the TP1 form opened up the market and allowed development companies or investment companies to sell plot sized areas at a cost that most people could afford.
These plots are often sold in house sized plots from around £5000 to £30,000 depending on location. These land sites would normally note yet have planning permission.
The price of land even without planning permission has risen significantly, for example in 1993 the average price of agricultural land per hectare was £3791 and this had risen four years later to £6,488, so even without planning consent the prices have increased dramatically.
However the largest gains are to be made when the land is granted a change of use, with prices increasing ten fold or more.
No one can guarantee that land will get planning permission, but if bought in the right locations over the medium to long term this may be gained.
As with any investment you need to way up the pro’s and con’s and make an informed choice.
If you decide that land investments are for you, the internet is a great place to find information on the land available. Whenever you do buy land always ensure you use an experienced solicitor to ensure all the paperwork is in order and the transaction and title deeds are in order.