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News Release

Manchester

North West residential land deals surpass 2012 total in just six months

Latest figures from Jones Lang LaSalle point to regional housing boom


Manchester, July 2013 – Residential land acquisitions by house builders in the North West during the first half of 2013 will deliver 5,500 new homes – more than the total recorded for the whole of 2012.

The figure comes from property consultant Jones Lang LaSalle, which said that the volume of land acquisition deals had also risen, recording 46 during the first six months of this year.

During the same period last year, Jones Lang LaSalle’s North West residential team recorded 26 deals with a capacity for 2,500 new homes.

Sites acquired stretch from Crewe to Lytham St Anns, covering more than 370. At the same point in 2012 just 170 acres had been transacted.

Commenting on the figures, Kieran McLaughlin, a national director from Jones Lang LaSalle’s residential team in Manchester, said: “While the market began to thaw in 2012, in 2013 the recovery in house building looks to be well underway.

“Driving this confidence has been a significant uplift in mortgage approvals – 25 per cent since January – the re-emergence of 95 per cent mortgages from providers like Halifax, and of course, major government schemes such as Help to Buy.

“This turnaround in market confidence is then coupled with the robust trading positions of the major volume house builders to create a potent cocktail for growth; the share prices of the main plc’s have increased by 50 per cent on average since the start of the year.

“The uplift in transaction activity in the region has been prolific over the first six months of 2013 and is a definite sign that the housing market’s resurgence is not just a Southern phenomenon.”

Key transactions led by the Jones Lang LaSalle team include some of the biggest recorded in 2013 so far:

• Taylor Wimpey’s acquisition of Bickershaw Colliery in Leigh, with space for 475 units – the North West’s biggest deal of the year to date

• Taylor Wimpey’s purchase of land at Farington Business Park, Leyland, for 220 new homes

• Persimmon’s deal at Redhouse Lane, Disley, for 120 units