In general, there continues to be moderate demand for land; the best sites attracting the most attention. Sentiment is notably more neutral for greenfield land this quarter, settling from the extremely positive opinion leading up to Q3 2014. The reduction in such positive sentiment for greenfield land is reflective of the reduced urgency for land and indicates that the limited price growth is likely to be sustained in the short term.
Sentiment in the urban land market remains more positive. This positivity indicates that sites in urban locations will continue to see reasonable demand. Urban sites will also benefit from both improved debt availability and regional economics. SMEs, who build out many of these sites, will have greater access to finance, and will benefit from the potential for mixed use schemes due to the rise in demand for commercial property. In the most sought after locations continued price rises are expected.
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