Regional Land Market Reports
Across the United Kingdom
Victor Saldji
[Compiled during 1969]
BEDFORDSHIRE
| 1967 |
See under HUNTINGDONSHIRE (with
CAMBRIDGESHIRE and BEDFORDSHIRE) |
| 1968 |
Mr. Arthur Jones of Douglas
Stratford Jones, estate agents of Bedford said in January 1969 "The
Land Commission's levy put up the price of land for development
and prices are higher than ever ... One effect of the levy has
been that big developers are looking for local builders with land,
so they can take over projects already started. ... But it is not
just the levy which has forced prices up. Land -- particularly for
housing -- is very much affected by the policy of the planning
authorities. While they continue to release land for development
on a piecemeal basis -- as they have done for 20 years -- land
values will be kept up". [Bedfordshire Times, 10 Jan
1969 news item] |
BERKSHIRE
| 1967 |
See under OXFORDSHIRE AND BERKSHIRE
|
| 1968 |
"Builders complain bitterly of
the famine of land available for development not only in Reading
but in Berkshire as a whole. Recently (Jan. 1969) a plot in
Reading was sold for the equivalent of £45,000 an acre".
[Reading chronicle, 3 Jan 1969 article by George Anderson,
"The Property Market"] |
| 1968 |
A Reading builder, Mr. S.J. Wyynn,
managing director of R.J. Haddock Ltd. and a member of the Council
for the Southern Region of the Building Trades Employers' National
Federation, said that it was virtually impossible for builders to
find land at anything like an economical price to build on. He
instanced the £35,000 paid in July, 1968, for
one-and-a-quarter acres at The Mount, Reading. "Mr. Wynn puts
the blame largely on the Land Commission. Owing to the Betterment
Levy, he says that the price of land previously fetching, for
instance, £10,000 an acre was now being sold for £14,000
where it was offered, but land for sale in Reading had almost
disappeared". [Reading Chronicle, 9 aug 1968 new
item] |
| 1968 |
Mr. Kenneth Curtis, president of the
Reading and District Association of the National Federation of
Building Trades Employers (Southern Region) and a third-generation
Reading builder said "The real trouble lies in the fact that
there is just not enough land being released by the planning
machinery. One indisputable effect however, is that the Land Levy
has considerably increased the price of land". [Reading
Mercury, 25 Jan 1969 news item] |
| 1968 |
See also under OXFORDSHIRE AND
BERKSHIRE |
BUCKINGHAMSHIRE (South)
| 1967 |
"The year opened with a flurry
of activity, caused by the impending threats of the Land
Commission Act, but after the first appointed day on April 6 the
effect on land prices, which sophisticated economists had been
predicting seemed to come about. Land sales fell away and
recovered only towards the end of the year, when a very material
uplift in prices was noted. Among those recorded were eight plots
in High Wycombe sold for £36,000, a single building site at
Frieth, near Henley-on-Thames, for £4,200, and an old pumping
station site of half an acre in the Vale of Aylesbury, fronting an
unmade road, with permission for one house, which was sold at
auction for £4,900 in December. Building land has become one
of the scarcest commodities in the market. The demand from
builders from many parts of the country seems unabated. ...Rising
prices indicate that betterment levy is in the end paid by the
purchaser and not by the vendor". [The Estates
Gazette, 20 Jan 1969; Hamnet, Raffery & Co. High Wycombe
and branches, Report for 1967] |
CAMBRIDGESHIRE
| 1967 |
See under HUNTINGDONSHIRE (with
CAMBRIDGESHIRE and BEDFORDSHIRE) |
| 1968 |
The retiring president of the
Eastern Region of the N.F.B.T.E., Mr. Ben Johnson, of Cambridge,
in his review for 1968 says that housebuilders "have suffered
from a scarcity of land and a shortage of mortgage funds, and the
reasonably bright start to 1968 was not maintained. The Land
Commission Act, through the betterment levy, has reduced the
supply of good building land and made it more expensive". [Evening
Star (Ipswich), 10 Jan 1969 news item] |
CHESHIRE
| 1967 |
(SOUTH CHESHIRE AND NORTH
SHROPSHIRE) "The year opened quietly following the near
standstill in all classes of business after the July, 1966,
squeeze, but with the spring came a general re-awakening. Once the
provisions of the Land Commission Act, 1967, became certain,
considerable activity in land sales for development took place,
leading up to a state of frenzy immediately prior to the appointed
day, April 6. Prices did not seem to be materially affected, but
the advantage lay more with purchasers in view of the vulnerable
tax situation of vendors. Not surprisingly, subsequent activity in
this section of the land market was quiet, with purchasers still
interested at slightly enhanced figures, but vendors very
reluctant to seek a purchaser unless absolutely necessary. It
would appear that the majority of vendors are prepared to wait and
hope for possible amendments to the Act in spite of the threat of
increased betterment levy" [The Estates Gazette, 13
Jan 1968, Henry Manley & Sons Ltd. Crewe Report for 1967]
|
| 1967 |
(Chester) A report by the Chester
Association of Auctioneers, Estate Agents, Surveyors and Valuers:
"The effect of the Land
Commission Act has been to increase the cost of building land to
an unprecedented level. Parcels sold during the year attracted
considerable interest, particularly an area of some six acres at
Vicars Grog's, which fetched over £11,000 per acre".
[The Estates Gazette, 3 Feb 1968] |
| 1968 |
(NORTH-EAST) "Builders complain
that they cannot buy land in North-East Cheshire for under £10,000
an acre. Often they pay up to £12,000, and in one case
recently a plot went for £16,000 an acre. This latter price
is beyond the reach of the small builders, and it is significant
that the major builders -- with ready capital, or access to it --
are now buying land in the area ... land worth £6,000 an acre
four years ago cannot be bought for under £10,000 today".
[The Guardian, 21 Novc 1968, Property Market column by
Richard Mallinson] |
| 1968 |
(Chester) A report by the Chester
Association of Auctioneers, Estate Agents, Surveyors and Valuers:
"There is now no doubt whatever
that the recent legislation concerning property has had the
effect of substantially raising the price of building land.
...The increase in land values is directly attributable to the
imposition of betterment levy and this, coupled with the effects
of devaluation, has seen an appreciable increase in the prices
of all new properties built in the area during the current year.
...The prices realised for parcels of land offered in the
Chester area were such that it would be no exaggeration to say
that, in general,, building land has doubled in price since
mid-1967." [The Estates Gazette, 15 Feb
1969] |
CORNWALL
| 1967 |
"Few sites were available, but
demand remained fairly constant. Higher prices than in 1966 were
being asked for (as the result of the Land Commission Act) and
obtained". [The Estates Gazette, 17 Feb 1968; button,
Menhenitt & Mutton Ltd., Wadebridge, Newquay and Padsstow.
Report for 1967] |
DERBYSHIRE
| 1967 |
"The rush to buy building land
and begin work before April 6 was followed by a lull in demand.
Late summer and autumn, however, saw a return to the normal high
level of demand. There was a chronic shortage of building land
within the Derby Borough and two acres suitable for high-density
housing or flats recently realised £30,000". [The
Estates Gazette, 3 Feb 1968; Frank Innes. Derby. Report for
1967] |
DEVON
| 1967 |
(Exeter and District) "There is
a steady demand for building land and the Land Commission Act has
had the effect of making both owners and builders reflect before
commencing transactions. There is no evidence that the prices have
been increased to offset the land development values". [The
Estates Gazette, 20 Jan 1968. Haarer, Motts & Co. Execter.
Report for 1967] |
| 1968 |
"Building land prices continued
to rise. The demand was substantial, but the supply was limited.
The Land Commission Act did not appear to have deterred would-be
purchasers". [The Estates Gazette, 1 Feb 1969.
Haarer, Motts & Co., Exeter. Report for 1968] |
ESSEX
| 1967 |
"Despite the introduction of
betterment levy there has been an increasing demand for building
land, or potential building land, whether it has been for the
individual unit or a number of units. This demand far exceeded the
supply and, in consequence, land prices were inevitably
maintained. Even the threat of acquisition for the Land
Commission's Land Bank did not noticeably increase the number of
transactions". [The Estates Gazette, 6 Jan 1968.
Taylor & Co., Chelmsford, Braintree, Maldon, Colcheste,r
billericay and Hadleigh (Suffolk). Report for 1967] |
| 1967 |
See also under HERTFORDSHIRE AND
ESSEX |
| 1968 |
"For single plots and sites for
small developments demand outstripped supply. As a result, prices
realised at auction and by private treaty were higher than could
ever have been visualised a year ago -- £20,000 an acre and
over for land with outline consent. While inflation and, no doubt,
devaluation, had some effect, it was evident that at least part of
the burden of betterment levy was being passed to purchasers of
building land, and therefore to house purchasers, in the form of
higher prices". [The Estates Gazette, 22 Feb 1969.
Taylor & co., Chelmsford, Braintree, Maldon, Colchester,
billericay and Hadleigh (Suffolk). Report for 1968] |
HAMPSHIRE
| 1967 |
"After April 6 -- the first
appointed day under the Land Commission Act -- there were very few
land sales, but where such sales had to be arranged, they went
ahead to completion. The few residential land sales we negotiated
resulted in prices at about the same level as before the Act came
into being". [The Estates Gazette, 17 Feb 1968. Hall,
Pain & Foster. Portsmouth, Cosham, Petersfield, Fareham,
Havant, Waterlooville, Porchester, Park Gate and Southampton.
Report for 1967] |
| 1967 |
(Bournemouth) "... the shortage
of the supply of building land ... was to be expected bearing in
mind the tremendous turnover in land towards the end of 1966 and
before the appointed day under the Land Commission Act. It was
particularly interesting to note that in the case of one fairly
large parcel of land dealt with in the Bournemouth area the price
paid at auction reflected a record figure per acre as a result of
keen competition by developers. Although the reserve was pitched
at a level equivalent to the previous, best sale price per acre in
1966, the final price represented a figure equivalent to the
betterment levy over and above the reserve". The Estates
Gazette, 6 Jan 1968. Fox & Sons. Bournemouth. Report for
1967] |
| 1967 |
(Bournemouth) Mr. R.F.G. Spencer,
chairman of Bournemouth and District Association of Auctionees and
Estate Agents, said that these were early days for a full
assessment of the working of the land Commission Act to be made,
but the effect of it, locally, had been "to make land even
scarcer and to drive prices higher". [Poole & Dorset
Herald, 8 Nov 1967 news item] |
| 1967 |
(Southampton and District): "When
the year began, it was principally in transactions concerning
building land that there was a balance between supply and demand;
this persisted to a quickening tempo until the incentive
disappeared on April 6. After the Land Commission Act came into
force, the demand for development sites did not diminish, but the
earlier intense activity coupled with a new reluctance on the part
of owners to place their land in the market cut back land sales
during the last eight months. Such sales as occurred after the
introduction of betterment levy suggested a rising trend in prices".
[The Estates Gazette, 3 Feb 1968. Fox & Sons.
Southampton and Winchester. Report for 1968] |
| 1968 |
(Southampton and District) "Residential
building land continues to be a scarce commodity and parcels
coming into the market attract fierce competition". [Southern
Evening Echo, 7 Jan 1969. Fox & Sons. Southampton and
Winchester. Report for 1968] |
| 1968 |
"The single plot has commanded
in 1968 almost any price which the vendor has cared to ask for it".
[Hampshire Telegraph, 9 Jan 1969. Messenger, May and
Baverstock. Liphook. Report for 1968] |
HEREFORDSHIRE
| 1967 |
"Single building plots became
very scarce and there was a strong demand for sites and an upward
trend in values of anything up to 40 per cent. Larger parcels of
building land did not attract anything like the same interest on
slow housing conditions and the demand was very selective" [The
Estates Gazette, 27 Jan 1968. Russell Baldwin & Bright.
Hereford, and at Leiominster, Tenbury Wells, Hay-on-Wye, Bromyard,
Kington, Brecon and Abergavenny. Report for 1967] |
HERTFORDSHIRE
|
(HERTFORDSHIRE AND ESSEX) "Building
land, during the first part of the year, was in particularly short
supply. It appears that many people with land capable of
development are waiting, possibly in the hope of political change
or to see if the Land Commission Act will be amended. Such land as
was sold increased fairly substantially in value, and some single
plots realised more than £5,000, a figure previously not
known. Large areas of land made up to £30,000 per acre. ...We
expect the hesitation which has been seen with regard to building
land to disappear slowly for, although with political change the
Land Commission Act may be modified, it seems unlikely that it
will ever be completely abolished. No effect has yet been felt
from the Commission's ability to purchase land, and it is doubtful
whether any will be felt for some considerable time". [The
Estates Gazette, 10 Feb 1968. G.E. Sworder & Sons.
Bishop's Stortford, Herts, Harlow and Ongar, Essex. Report for
1967] |
| 1968 |
Individual plots of building land "have
become increasingly difficult to find and prices have remained
firm with reasonable competition. Several large parcels changed
hands during the year and prices rose, since, as was to be
expected, a large portion of the presumed betterment levy
virtually passed on to the developer". [The Estates
Gazette, 11 Jan 1969. Mandley & Sparrow. St. Albans.
Report for 1968] |
HUNTINGDONSHIRE (with CAMBRIDGESHIRE and BEDFORDSHIRE)
| 1967 |
"There was a surfeit of
building land on the market before April 6 ... but, though there
was some easing, prices held surprisingly well.
During the summer months there was little building land on the
market and little demand, but in the late autumn we noted a marked
upsurge in the requirement. Concerns which failed to acquire
substantial reserves before the advent of the Land Commission Act
are now coming into the market strongly and prices are rising. The
majority of available large parcels of land are still being sold
without the vendors being liable for substantial betterment levy,
but the effect of the Land Commission Act is unquestionably
stimulating a general increase in prices and this is particularly
so with regard to small parcels". [The Estates Gaztette,
132 Jan 1968. Ekins, Witherow & Handley. Huntingdon,
Biggleswade, Cambridge, St. Ives and St. Neots. Report for 1967]
|
KENT
| 1967 |
"Building land of all
categories is very scarce. Larger sites for estate developers are
greatly in demand, but most available land was sold prior to 'the
appointed day' and little came on the market after April. The same
conditions applied to single plots for individual houses, with the
supply of sites becoming exhausted.. The Land Commission Act
expedited so much hole-digging before midnight on April 5 that the
store of land upon which 'material development' took place must
be the highest in the history of the building industry". [The
Estates Gazette, 30 Dec 1967. Burrows & Co., Ashford,
Kent. Report for 1967] |
| 1967 |
(KENT AND EAST SUSSEX) "The
market in building land seemed to shake off the after effects of
the Land Commission Act by the end of the summer. Developers
regained their appetite for land and some very satisfactory sales
were achieved. Our Tunbridge Wells office obtained £16,600
per acre for a site of just over 2-1/2 acres, which again was
probably a record for building land in that town. These prices
were markedly higher than the figure of just under £10,000
per acre obtained at auction by the Ashford office for some four
acres of development land close to the town. Densities of
permitted development are an important factor, but land prices are
noticeably higher in the former towns. The figures probably
reflect a combination of the lack of future supply of land and a
fear of betterment levy, but whatever the cause, the result will
without doubt be an increase in house prices". [The
Estates Gazette, 24 Feb 1968. Geering & Colyer. Ashford,
Turnbridge Wells, Maidstone, Hawkhurst, Cranbrook, Kent.
Heathfield, Rye, Wadhurst, Sussez. Report for 1967] |
LANCASHIRE
| 1967 |
(Liverpool) "The demand for
building land has continued throughout the year and as such land
becomes more scarce the price rises". [The Estates
Gazette, 30 Decm 1967. W.F. Beavan, Maples & Co.,
Liverpool. Report for 1967] |
LEICESTERESHIRE
| 1967 |
"There was a heavy demand by
developers for large areas of land ripe for development, but only
a very limited amount on offer. Individual plots have proved more
difficult to sell since the passing of the Land Commission Act, as
vendors are not willing sellers when they realise that they have
to pay development levy. The result was fewer transactions of
individual plots during the year". [The Estates Gazette,
6 Jan 1968. A.J. Harrison & Partners. Leicester. Report for
1967] |
| 1967 |
"Very little building land came
on to the market after the Land Commission Act came into
operation, other than lots on offer by local authorities. Private
vendors 'sat on the fence' and only occasional plots upon which an
owner had carried out one of the 'specified operations' was on
offer. In such circumstances land realised similar prices to those
prevailing in 1966". [The Estates Gazette, 3 Feb
1968. Andrew & Ashwell. Leicester. Report for 1967]
"During the first three months before the Land Commission
Act came into force, successful efforts were made to dispose of
certain remaining parcels of building land which had been under
negotiation, usually, to large firms of developers, for a
considerable period. In one case, however, a plot of land which
was under negotiation prior to April 6 at about £2,000, and
where the prospective purchaser withdrew prior to contract, was
later sold at £2,700. After April 5, sales of building land,
both of large areas and of single plots, virtually ceased. Such
evidence as exists of values is that they have increased somewhat
to make some allowance for liability to betterment levy. Taking a
larger view, we think it likely that a crisis point will be
reached, as builders and individual persons are clamouring for
land but none is available on the market. This has not yet
occurred with the large firms of builders and developers, because
they had ample stocks in hand when the new legislation came into
force, but difficulties are already being experienced by small
builders". [The Estates Gazette, 17 Feb 1968.
Shakespear, McTurk & Graham. Leicester and Loughborough.
Report for 1967] |
LINCOLNSHIRE
| 1968 |
"Building land continues to be
scarce in the Grantham district, particularly in individual plots,
and prices have again risen". [The Estates Gazette,
11 Jan 1969. Escritt & Barrell. Grantham. Report for 1968]
|
LONDON
| 1967 |
"... the effects of the levy
provisions of the Land Commission Act still largely remain to be
seen, but some developers are delaying schemes and others are
trying to limit developments to 'Third Schedule' rebuilding so as
to avoid a levy". [Jewish Chroncile (Property
Supplement), 19 Jan 1968. Allsop & Co. and H.E. Foster &
Cranfield. Report for 1967] |
| 1967 |
(CENTRAL LONDON RESIDENTIAL) "The
building land market was quite active, but having regard to prices
quoted, it would seem that vendors are trying to hedge against the
incidence of betterment levy". The Estates Gazette,
13 Jan 1968. Edward Erdman & Co. 6 Grosvenor Street, London,
W.1. Report for 1967] |
| 1968 |
"Residential building land was
in good demand, although it was noted that at the beginning of the
year quoting prices still appeared to pay undue regard to
potential betterment levy but, as the year progressed, a more
reasonable attitude was adopted". [The Estates Gazette,
11 Jan 1969. Edward Erdman & Co. 6, Grosvenor Street, London,
W.1. Report for 1968]
"Even outside the London area, a plot for a new house or
flat has reached £1,000 or more. Before the advent of the 40%
levy the price of an equivalent plot was generally £700 to £800
in areas of sustained demand. The difference accounts roughly for
the 40% which the seller has to pay". [The Daily Telgraph,
5 April 1968 article by Legal Correspondent, Terence Shaw] |
NORFOLK
| 1968 |
(WEST NORFOLK auctioneers report for
1968) "Demand for building land and plots remained at a high
level with values moving ahead rapidly. The supply completely
failed to satisfy buyers' requirements, although towards the end
of the year, a certain amount of building land was available. In
the area, the rise in price completely off-set the Betterment Levy
payable under the Land Commission Act". [Lynn News &
Advertiser, 3 Jan 1969 news item] |
| 1968 |
(North Walsham and Aylsham areas)
According to Mr. Nigel Hedge, residential property manager for
Messrs. G.A. Key "The introduction of Betterment Levy has
caused a scarcity of building land with the result that the
vendors are beginning to look for £3,000 an acre to
compensate for the fact that they will have to pay 40% Betterment
Levy". [North Norfolk News, 28 Feb 1969 news item]
|
NORTHAMPTONSHIRE
| 1967 |
"Building land remained in high
demand with prices rising, particularly in the last six months".
[The Estates Gazette, 3 Feb 1968. Berry Bros &
Bagshaw. Kettering, Brackley, Market Harborough and Newport
Pagnell. Report for 1967] |
NORTHUMBERLAND
| 1968 |
(Dateline 4 Feb. 1969) "A patch
of land in Northumberland previously on sale for £2,000 per
acre was recently boosted in price to £3,250 per acre.
When sizeable areas are offered, land owners often add the levy
cash to the price -- and also, because of the shortage, a 'bit
extra'. ...At present three of the largest building contractors in
the area are often forced to agree to the high asking prices for
land in order to keep up with their development programmes. ...
|
| 1968 |
Mr. Philip Cussins, of Cussins
Contractors Ltd., says 'There is no question about prices having
gone up. In some cases owners are asking almost double what they
did previously' ...Says Mr. J.H. Ross, a director of William Leech
(Builders) Ltd., 'Many are quite content to sit back and wait for
a change of government and get the Act thrown out rather than pay
the levy. Unfortunately we must have land; it's the grist of our
trade and we have to pay the prices asked'. Another North-East
contractor, John T. Bell and Sons, Ltd., claim they could put up
another 1,000 houses a year if the land were available. ...Here
again the planners get part of the blame for both 'freezing' land
and, consequently, pushing up the price elsewhere". [Evening
Chronicle (Newcaster upon Tyne), 4 Feb 1969 article on the
Land Commission by Peter Brook] |
| 1968 |
The supply of building land, for any
form of development, "has been limited due to strict planning
control, green belt policy and the reluctance of owners to sell
because of continued inflation and betterment levy".[The
Estates Gazette, 4 Jan 1969. Sanderson, Townend & Gilbert.
Newcastle upon Tyne. Report for 1968] |
NOTTINGHAM
| 1967 |
(Dateline 21 Aug. 1967) A Nottingham
builder is quoted as commenting that from April 6 "the
availability of land to (local) building firms dried up just as if
somebody had turned off a tap". In confirmation of this Mr.
C.M. Carver, secretary of the Nottingham and District Association
of Building Trades Employers, was quoted as saying that "it
was as though the supply had been sterilised". [Guardian-Journal
(Nottingham), 21 Aug 1967. Trade & Industry column by the
Industrial Correspondent] |
OXFORDSHIRE AND BERKSHIRE
| 1967 |
"Building land for residential
development in Oxford continued to be scarce and prices rose.
There is no doubt that prices increased after the introduction of
the Land Commission Act. In Wallingford area the increase was up
to 40% for individual plots".[The Estates Gazette, 24
Feb 1968. Buckell & Ballard. Oxford, Banbury, Newbury,
Wallingford and Wantage. Report for 1967] |
| 1968 |
"Building land, whenever
available, has sold readily at prices which reflect the incidence
of betterment levy. ... A few more sites of medium size were
available around Newbury than in 1967 and new record prices were
paid". [The Estate Gazette, 28 Dec 1968. Buckell &
Ballard. Oxford, Banbury, Newbury, Wallingford and Wantage. Report
for 1968] |
SHROPSHIRE
| 1967 |
See under CHESHIRE: (SOUTH CHESHIRE
AND NORTH SHROPSHIRE) |
| 1968 |
"The Land Commission ... are
virtually having exactly the opposite effect that the theorists
anticipated. It is a simple fact that due to their activities less
land is now available, and land is a Builders' lifeline,
therefore, the extra demands automatically push the price up".
[Staffordshire Advertiser, 23 Jan 1969. Davies, White &
Perry, of Newport, Shropshire, report for 1968 quoted in property
column] |
STAFFORDSHIRE
| 1967 |
"Building land throughout area
was in very short supply and some high prices were realised. We
expect prices to increase during 1968, since the demand for new
houses in the West Midlands conurbation continues to be
insatiable. ...The Land Commission is now making its presence felt
and we expect to have more and more dealings with it. It is
difficult to decide whether it is betterment levy which is pushing
prices upwards in certain cases or whether it is merely the
general inflationary tendency, but we have no doubt at all that
property prices in general will increase during 1968". [The
Estates Gazette, 30 Dec 1967. Fox & Harrison, Walsall.
Report for 1967] |
| 1968 |
"Not un-naturally this
imposition (Betterment Levy) was placed on the existing price of
the land with the result that land prices soared to an alarming
degree in 1968 and single plots have made almost any price which
the vendor has cared to ask.
It must be remembered that by far the majority of new houses
which were sold during the year have been built on land which was
acquired by developers before the Land Commission Act came into
effect. The prices accordingly have only risen to the extent of
increased cost and materials and S.E.T. but prices will certainly
rise in future when the Betterment Levy has been paid on the land".
[Staffordshire Advertiser, 30 Jan 1969. W.S. Bagshaw &
Sons, of Uttoxeter, Ashourne, Bakewell and Derby. Report for 1968
quoted in property column] |
| 1968 |
"Continual demand for building
land has pushed prices higher than ever, a trend which we consider
will grow during 1969". [The Estates Gazette, 11 Jan
1969. Fox & Harrison, Walsall. Report for 1968] |
SUFFOLK
| 1968 |
"In this district, (Bury St.
Edmunds) and we suspect in others, there is a not inconsiderable
amount of development land having the benefit of planning consent,
which is nevertheless not coming on to the market at the moment.
Prominent among the reasons for this must surely be a reluctance
by the owners to meet the levy, although this remains confined to
40% of the development value. This has a two-fold effect. It
restricts the amount of building land coming on to the market, and
it makes it more difficult to obtain planning permission on other
eligible sites, for the well-known reason so often given in
planning refusals that 'other land for development is available
within the area'. The result is obvious. It is an enhancement of
the value of building land generally ...". [The Estates
Gazette, 28 Dec 1968. Lacy Scott & Sons. bury St. Edmunds.
Report for 1969] |
SURREY
| 1967 |
"There continues to be a very
good demand in the area for building land, but supply is limited
and there is still some confusion about the Land Commission Act.
...There was not a great deal of activity in large parcels of land
after the Land Commission Act came into force". [The
Estates Gazette, 10 Feb 1968. Dudley W. Harris & Co. Ltd.,
Staines, Egham, Sunbury and Feltham. Report for 1967] |
| 1968 |
A report by the West Surrey
Association of Surveyors, Auctioneers and Estate Agents:
"The Land Commission Act, 1967,
imposing a 40% development levy has resulted in building plots
being in extremely short supply. There is therefore a very keen
demand both from builders and private purchasers for the few
small parcels which do find their way on to the market,
resulting in surprisingly high prices".[Surry
Advertiser - Surry Herald. 3 Jan 1968 news items]
|
| 1968 |
PHILLIPS & WHITE (BUILDERS)
LTD., ask "How does the Land Commission view these events
which are now a new feature of land sales? At a local sale
recently, builders, because of extreme shortage of land in this
area, crowded into the sale room (over 200 herded into a small
room of the Cotteridge Hotel, Woking) to bid for a site with
planning permission for 16 dwellings, at West Byfleet. We, like
the other builders present, obviously went in hopes of obtaining
land to keep our staffs in employment, but to see around 200 more
present, grimly underlines the fact that we shall all have to shut
up shop unless the land situation is tackled in such a way that
builders can obtain their most fundamental need. The mere fact
that Planning Permission had been granted (this in itself short
circuits some months of waiting) made the land valuable, but the
final bid was for £73,700! What hopes have we to stay in
business?". [Illustrated Carpenter & Builder, 13
Dec 1968. Leter from Phillips & White (Builders) LTd. Ashford,
Middlesex] |
| 1968 |
"Where it has been rumoured
that land in the 'White' areas of development plans might shortly
receive permission for housing development, building firms have
stepped in quickly and paid substantial sums for options to buy at
prices up to about £15,000 an acre without roads or services.
Smaller sites in development areas with planning consent for small
houses at densities of about 10 an acre sold readily to developers
at £25,000 to £30,000 an acre. ...Under present policies
it is difficult to see the price of land coming down, although
there must be a limit to the extent to which increasing site cost
can be handed on to the consumer". [The Estates Gazette,
11 Jan 1969. Watkin & Watkin. Reigate. Report for 1968] |
SUSSEX
| 1967 |
"The market was greatly
influenced by the Land Commission Act, and in the early part of
the year there was a great deal of activity. In some cases land
was sold for something less than its real value for the sake of
speed. With development companies in a mood to buy, most of the
suitable land found ready purchasers. The demand for individual
building sites continued to increase, although, notwithstanding
the prospect of betterment levy the supply did not. The result was
higher prices and a very ready market.
Activity after the appointed day on April 6 fell dramatically,
single sites becoming almost unobtainable and development
companies competing fiercely for any larger areas that became
available. Higher prices realised for development land towards the
end of the year could be attributed to 6ptimism as far as the
future of house prices was concerned, but they also reflected the
development companies' willingness to accept lower returns in
order to keep the rate of production constant". [The
Estates Gazette, 27 Jan 1968. Whitehead & Whitehead.
Chichester and branches. Report for 1967] |
| 1967 |
for BAST SUSSEX see under KENT AHD
EAST SUSSEX |
| 1968 |
A report by the Worthing and
District Auctioneers' and Estate Agents' Associations:
"As forecast in the
association's 1967 report, the levy provisions of the Land
Commission Act, 1967, discouraged many land and property owners
from selling for development or re-development, thus reducing
the overall supply. The inevitable keen competition by builders
and developers for such land which became available forced
prices still higher". [The West Sussex Gazette,
6 Feb 1969. Property Guide by Jack Peach]
|
| 1968 |
Mr. W.D. Blackwell, president of the
Worthing and District Auctioneers' and Estate Agents' Association
gave warning on 7 March 1969 that the price of homes would soon
rise because the betterment provisions of the Land Commission Act
"had resulted in an acute shortage of land which because of
competition, had brought a price increase of nearly 30% in the
past six to nine months". He stated that this in turn would
result in an increase of £300 to £400 on the price of
small houses now being erected, available for sale in the next few
months. [Worthing Gazette, 12 March 1969 news item] |
| 1968 |
PHILLIPS & WHITE (BUILDERS) LTD.
-- see under SURREY -- wrote: "At the same auction, there
were offered 8.3 acres at Felpham, Sussex (planning permission for
93 dwellings), but this was withdrawn at £175,000!".
|
WARWICKSHIRE, WORCESTERSHIRE
| 1968 |
"Mr, David Dare, a director of
Dares Estates Ltd., of Birmingham told me that in his opinion the
Land Commission must take a great deal of the blame for the
present soaring land prices: "Because of the Betterment Levy
people who would normally have been prepared to sell, are loath to
do so because they are frightened off by the levy' ". [The
Birmingham Post, 18 Feb 1969 article by the Property
Correspondent Kenneth Jackson] |
| 1968 |
"One leading Birmingham builder
said 'The situation in Warwickshire and Worcestershire is
absolutely staggering. Builders are being held to ransom or being
priced out of the market'. ...Mr. John M. Peutherer, chairman and
managing director of Cornwall Property Holdings Ltd., said the
price of land in Birmingham had leapt from £10,000 to £27,500
an acre. This he felt was directly as a result of the Land
Commission and Betterment Levy because the 40$ which the vendor
had to pay to the Government was being put on the price of the
land". [The Birmingham Post, 2 Oct 1968 article by
the Property Correspondent Kennth Jackson] |
YORKSHIRE
| 1967 |
"Land has become one of the
biggest worries of builders in the Bradford area. The new Land
Commission is coming in for much of the blame. 'The Land
Commission is having exactly the effect that the profession feared
it would have, and the opposite effect to the intention behind the
legislation', a leading estate agent in this area told me. 'With
this sort of shortage, builders are rushing to buy up any land
that is going. It is realising much higher prices accordingly and
the increase is being passed on to the house purchaser'. One
four-acre site in the district which a year ago would have fetched
about £12,000, has been inundated with offers from as many as
18 builders and the price of the successful bid is likely to soar
to nearer £18,000". [Telegraph & Argue
(Bradford), 19 March 1968 article by the Industrial Correspondent
Trevor Dean] |
| 1968 |
Mr. J.B. Longbottom, chairman and
joint managing director of the Kirk Group of Companies, Keighley
Road, Skipton, in his statement for presentation at the annual
meeting of the group on 13 March 1969 said: "The trend
towards houses only being sold, when completed, continued to
absorb a great deal of the group's financial resources as did the
greatly increased prices having to be paid for suitable land since
the advent of the Land Commission". [Keighley News,
22 Feb 1969 news item] |
WALES
SOUTH WALES
| 1967 |
"In the case of small parcels
of land, there is no doubt that those who had land in the market
at April 6, and those who have since put land on the market have
adjusted the price to meet the expected betterment levy and
although this increase has prolonged negotiations, our experience
is that the higher prices are being paid". [The Estates
Gazette, 11 Jan 1969. Jno. Oliver Watkins & Sons. Swansea.
Report for 1967] |
| 1968 |
"Virtually no large parcels of
building land have been on the market in the area, but individual
plots have sold well. Landowners are hopeful that the Land
Commission Act will be repealed, or amended to their advantage,
and while this possibility remains they are content to 'sit
tight'. Meanwhile, there is no great demand from builders, who
seem to have sufficient land in hand for their immediate needs".
[The Estates Gazette, 17 Feb 1968. Morris, Marshall &
poole. Newtown, Montgomeryshire. Report for 1967] |
MID WALES
| 1967 |
"There was a big demand for
individual sites before the Land Commission Act came into force on
April 6, but the market was subsequently slow. Such land as was
sold certainly increased in price and it was apparent that the
equivalent of a large part of the levy was being passed on to the
purchaser". [The Estates Gazette, 17 Feb 1968.
Morris, Marshall & Poole. Newtown, Montgomeryville. Report for
1967] |
| 1968 |
"Building land was in keen
demand at prices which fully showed that the amount of betterment
levy was being passed on to the purchaser". [The Estates
Gazette, 8 Feb 1968. Morris, Marshall & Poole. Newtown,
Montgomeryshire. Report for 1968]
|
NORTH WALES
| 1968 |
"The rise in the price of
building land in the Wrexham area is due mainly to the development
tax, says Mr. Geoffrey Crewe of Jones and Son, in a review of the
firm's activities over the past year. Single plots were sold at
prices ranging from £600 in isolated parts of the rural
district to £2,000 for good sites within the borough". [Wrexham
Leader (Denbighshire), 31 Jan 1969. Property Guide by H. Carey
Jones]
|
and the last word to
SCOTLAND
|
"Owners who are selling are
trying to ensure that, notwithstanding betterment levy, they are
still left with the profit they first thought of". [The
Estates Gazette, 20 Jan 1968. Kenneth Ryden & Partners.
Edinburgh and Glasgow. Report for 1967] |
APPENDICES
|
