Craaaaaaaasssshhh

Price of urban development land in Yorkshire crashes:

THE PRICE of urban development land in Yorkshire and the Humber crashed by 64 per cent during 2008 – the steepest fall in the country, research showed today.

A report by estate agents Knight Frank said that nationally the value of land for housing developments halved during 2008 as the problems in the house building sector hit demand.

House builders and other residential developers now account for 27 per cent of groups selling land, while speculative land investors are now the biggest buyers at 24 per cent, followed by housing associations and private landowners.

The group thinks land prices will fall by a further 10 per cent before stabilising over the summer.

“And which is the most urban part of Yorkshire and Humberside, boys and girls?”, asks Tiberius, “That’s right! Leeds!”

You’d have to pity any suckers who’ve made significant land purchases in the area in the last twelve months.

Oh:

At a meeting in November, the council opted to buy land from Leeds Metropolitan University on Claypit Lane for £6m as a site for the arena.

But still, given that even estate agents (i.e. vested interests) are estimating a further fall of 10%, the council would surely not consider this a good time to be using tax payers’ money to buy-up even more land in Leeds, would they?

Oh:

COUNCIL bosses in Leeds look set to approve significant land purchases as part of a £20m bid to ease congestion on a key commuter route.

It is hoped the new scheme will persuade more people to ditch their cars by reducing bus journey times on the route by up to six minutes during peak periods.

Wait – on second thoughts, that’s only a mere £3 million per minute! Another great investment by LCC!

Advertisements

The URI to TrackBack this entry is: https://tiberiusleodis.wordpress.com/2009/04/03/craaaaaaaasssshhh/trackback/

RSS feed for comments on this post.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: