{"id":2944,"date":"2022-01-06T17:11:12","date_gmt":"2022-01-06T17:11:12","guid":{"rendered":"https:\/\/www.yopa.co.uk\/homeowners-hub\/?p=2944"},"modified":"2022-01-15T17:43:50","modified_gmt":"2022-01-15T17:43:50","slug":"how-to-value-land","status":"publish","type":"post","link":"https:\/\/dy36-2.stage.yopa-dev.co.uk\/homeowners-hub\/how-to-value-land\/","title":{"rendered":"How to value land"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Whether you are\nhoping to purchase a small chunk of your neighbour\u2019s garden to extend your own\nproperty, have a more significant acreage in mind for development\nopportunities, or you have more land than you can manage and want to gauge a\nrealistic selling price before putting it on the market, knowing how to <a href=\"https:\/\/www.yopa.co.uk\/online-valuation\">value<\/a> a plot of land can be extremely useful.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, land\npurchases in the UK are not limited to urban settings, and, interestingly, the\npurchase of forest and woodland is also on the rise amongst the general\npopulace. No longer the preserve of commercial developers or wealthy\neccentrics, interest in purchasing small pockets of forest and rural land (so\ncalled \u201camenity woodland\u201d) and communing with nature on a more individual basis\nis at an <a href=\"https:\/\/www.savills.co.uk\/insight-and-opinion\/savills-news\/321176\/desire-to-get-out-and-connect-with-nature-has-led-to-a-surge-of-interest-for-parcels-of-amenity-woodland\">all-time high<\/a>. The market for farmland is also\nchanging, with lifestyle\npurchasers and\/or investors outstripping farmers to account for 55% versus 39%\nof buyers. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So, whether you are buying or selling, how do you go about finding out the value of a specific piece of land? <\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/yopa-production-wordpress-content.s3.eu-west-1.amazonaws.com\/homeowners-hub\/uploads\/2022\/01\/garden-1024x683.jpg\" alt=\"\" class=\"wp-image-2946\" srcset=\"https:\/\/cdn.yopacrm.yopa.co.uk\/homeowners-hub\/uploads\/2022\/01\/garden-1024x683.jpg 1024w, https:\/\/cdn.yopacrm.yopa.co.uk\/homeowners-hub\/uploads\/2022\/01\/garden-300x200.jpg 300w, https:\/\/cdn.yopacrm.yopa.co.uk\/homeowners-hub\/uploads\/2022\/01\/garden-768x512.jpg 768w, https:\/\/cdn.yopacrm.yopa.co.uk\/homeowners-hub\/uploads\/2022\/01\/garden-50x33.jpg 50w, https:\/\/cdn.yopacrm.yopa.co.uk\/homeowners-hub\/uploads\/2022\/01\/garden.jpg 1500w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The first thing\nto be aware of is that the location and type of land you wish to sell, or\npurchase, will have a massive impact on its value.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Just like\nproperty values, an acre of land in a sought after, expensive location where\nspace is at a premium (London being a prime example) or a scenic bolthole in an\narea of outstanding natural beauty will attract a higher asking price than land\nin other areas since demand is higher there. If the land has development rights,\nspecific planning permission granted or, conversely, any stipulations on how it\ncan be used, then this can also have a big impact on the price tag. These\nstipulations are often referred to as a restrictive covenant \u2013 particularly\nwhen it comes to garden and residential land \u2013 and may place conditions on\nthings like noise levels and commercial use. Seeking <a href=\"https:\/\/www.planningportal.co.uk\/info\/200130\/common_projects\/9\/change_of_use\/2\">change of use<\/a> permission can be tricky (and costly)\nand there is no guarantee that this will be granted, so you should always\nfactor this in to the price before an offer is made.&nbsp; <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The value\nplaced on a piece of land can also be impacted by the condition of said land.\nFor instance, if it is vastly overgrown and uneven or there will be expensive\nobstacles in place to make it suitable and safe for human habitation (say an ex-brownfield\nsite which may potentially be contaminated for instance) this can decrease the\nvalue of the site. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Equally,\namenities and basic infrastructure such as water and electricity points will be\na useful selling point. In the same vein, whether it be woodland, residential\nor commercial land, road access and carparking can also bump up the value of\nthe land significantly.&nbsp; <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When it comes\nto putting a price on a plot of land, to find the most accurate figure \u2013 whether\nyou are the owner or prospective buyer \u2013 you should seek a professional valuation\nfrom an estate agent or chartered surveyor who specialises in land sales and\nhas a good knowledge of the local area. They will undertake a comparison with\nsimilar plots which have sold locally, adjusting the figure based on the plot\nsize and specific characteristics noted above. <\/p>\n\n\n<div class=\"valuation-widgets\">\n    <div class=\"valuation-widgets__col\">\n        <a href=\"https:\/\/www.yopa.co.uk\/online-valuation\" class=\"valuation-widget\">\n            <div class=\"media\">\n    <div class=\"media__media\">\n        <img decoding=\"async\" src=\"https:\/\/dy36-2.stage.yopa-dev.co.uk\/homeowners-hub\/wp-content\/themes\/yopa\/assets\/images\/icon-house.svg\" alt=\"\" role=\"presentation\">    <\/div>\n    <div class=\"media__inner\">\n        <div class=\"media__heading\">\n            Instant online <span class=\"chevron\">valuation<\/span>        <\/div>\n        <div class=\"media__content\">\n            <p>Get a rough estimate of your home's value now.<\/p>        <\/div>\n    <\/div>\n<\/div>\n        <\/a>\n    <\/div>\n    <div class=\"valuation-widgets__col\">\n        <a href=\"https:\/\/www.yopa.co.uk\/property-valuation\" class=\"valuation-widget\">\n            <div class=\"media\">\n    <div class=\"media__media\">\n        <img decoding=\"async\" src=\"https:\/\/dy36-2.stage.yopa-dev.co.uk\/homeowners-hub\/wp-content\/themes\/yopa\/assets\/images\/icon-currency.svg\" alt=\"\" role=\"presentation\">    <\/div>\n    <div class=\"media__inner\">\n        <div class=\"media__heading\">\n            Face-to-face <span class=\"chevron\">valuation<\/span>        <\/div>\n        <div class=\"media__content\">\n            <p>Book an appointment with your local Yopa agent.<\/p>        <\/div>\n    <\/div>\n<\/div>\n        <\/a>\n    <\/div>\n<\/div>\n\n\n\n\n<p class=\"wp-block-paragraph\">If you are\npurchasing land to enlarge your own adjacent property boundaries the <em>marriage\nvalue<\/em> will also be considered. This is the monetary value which would be\nadded to your existing land with the addition of the land you are planning to\npurchase (including, if applicable, the value added by an extension to your property).\nThe amount in question is then adjusted accordingly (generally halved) to give\nyou a land valuation price. The reduction in value that the vendor\u2019s property\nwill see as a result of losing the land they are selling to you is usually also\nfactored in when reaching a valuation. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you are\nbuying or selling a plot of land which adjoins a property, you should also check\nout our article <a href=\"https:\/\/www.yopa.co.uk\/homeowners-hub\/how-much-is-garden-land-worth\/\"><em>How much is garden land worth?<\/em><\/a><em> <\/em>to discover the possible implications for homeowners (and their\nmortgages). <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When it comes\nto valuing woodland, the average figure for a small woodland plot under 5 hectares in size was\njust over \u00a345,000 from 2017-2021. For woodland of 15 to 20 hectares the average\nprice was \u00a3145,000 during the same period. For those hoping to purchase\nfarmland, the limited supply versus a healthy demand has seen <a href=\"https:\/\/www.fwi.co.uk\/business\/markets-and-trends\/land-markets\/average-farmland-values-reach-four-year-high\">prices rise<\/a> between 2017-2021 to a UK average of \u00a37,320\/acre\nin September 2021. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But of course,\nthese land prices also vary significantly by location. According to <a href=\"https:\/\/www.savills.co.uk\/insight-and-opinion\/savills-news\/321176\/desire-to-get-out-and-connect-with-nature-has-led-to-a-surge-of-interest-for-parcels-of-amenity-woodland\">Savills<\/a> for instance, the average asking price\nfor a woodland area of 15 to 20 hectares in Scotland was less than half (just\nover \u00a390,000) the same sized area in the pricey East of England (\u00a3200,000) between\n2017-2021. So, if you are not fixed on a location, it pays to do your homework\nto find the best deal. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whether you are hoping to purchase a small chunk of your neighbour\u2019s garden to extend your own property, have a more significant acreage in mind for development opportunities, or you have more land than you can manage and want to gauge a realistic selling price before putting it on the market, knowing how to value<\/p>\n","protected":false},"author":4,"featured_media":2945,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2,1],"tags":[],"class_list":["post-2944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-selling","category-buying"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to value land - 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