The Q3 Land Development Demand Index by Searchland found that 42.7% of total listed land development opportunities have already been snapped up by developers.

Farm plots are the most in demand land development type, with 55.3% sold subject to contract or under offer, with interest surging by 12.4% between the second and third quarters.

Farms are most popular in the South West (65%), the North West (66.7%), the North East (52.4%), the East of England (52.6%), and the East Midlands (45.5%).

Land-only developments also remain popular, with demand at 43.7%, giving investors a clean slate to build what they want.

Industrial developments saw 37.4% purchased, followed by commercial developments at 36.1%.

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The least popular area for investors was residential developments (33.8%) which are generally considered safer but can be less lucrative.

Overall demand for development opportunities dropped by 1.8% between the second and third quarters, standing at 42.7%.

Mitchell Fasanya, co-founder and CEO of Searchland, commented: “Farmyard developments are all the rage, and this high demand is being driven by the ability to convert these land plots into large logistical sites.

“However, growing interest in farms is something of an outlier as, broadly speaking, investor demand has cooled since the summer. 

“With demand being more balanced, at least it gives savvy developers more opportunities to haggle on price, potentially making a greater return in the process.”