Our latest Regional Land report shows that activity in the regions is robust, however London is increasingly a buyers' market. Land prices in the capital are generally falling. Something which has been exacerbated by the loss of ground rent incomes. 

The market across the North of England and Scotland is particularly strong. Elsewhere, the Midlands is now in a 'two-speed' market with traditional prime areas being overtaken by more secondary locations. The Southern regions seem largely static. Housing Associations and build to rent operators continue to be competive forces across most regions.

Indicators are pointing to house prices approaching the limit of what current incomes and credit conditions can support. Growth at the headline level will continue to be low to moderate with London underperforming.