Residential development land values in England rise by the strongest rate since 2005, according to property consultancy Knight Frank.

Knight Frank’s Residential Development Land Index for Q1 2010 shows average residential land prices in England rose by 11.5% in the 12 months to the end of March 2010, the strongest rate of growth since the first quarter of 2005.

Quarterly growth in the three months to the end of March equated to 2.4% for Urban land and 6.6% for Greenfield land.
 
The region recording the strongest quarterly growth in land values was London (urban land) averaging 6.8%, and the West Midlands (Greenfield land) averaging 12%.
 
Demand in the market is dominated by residential developers and house builders, 44% of all buyers.