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The Land Of Opportunity
The Land Of Opportunity
22/02/2020
"There’s no untouched land left in the UK.... It's over-populated.... All the developers are building on the open spaces.." - Sound familiar? But what’s the reality? I sat in on a property seminar this weekend which focused on commercial property and land development. Like many others, I have experienced the large development companies descend in various parts of my home town to carry out giant build projects. And for a while, a sense of overcrowding looms, and neighbours and local residents alike start to comment on how the developers are taking all the land, they’re only thinking of the small fortune they will make, and how they are ruining the UK’s beautiful landscape. As a property Investor myself, I understand both sides, but it does raise an interesting question as to how much untapped land really is left on our precious island.
The BBC produced a report only 3 years ago, which in a surprising turn of events, showed that a miniscule 5.9% of the entirety of the UK is built on. A fact which most of us would have to re-read several times to believe. Over half is made up of farmland, 2.5% is green urban (parks, play areas etc), leaving a substantial 34.9% of natural land.
In a country where the housing demand dramatically outweighs the supply; where there is a current ratio of only 1 house available to every 30 people on the council waiting list; it would appear that the developers are actually providing a much needed service to the economy. And, in actual fact there’s a lot of spare land to provide many more homes to many more people in need.