Each month in the UK, approximately 100,000 residential property transactions take place.
Most of these are for flats or houses.
But land can also be sold.
How do I sell my land?
Land agents
Land agents are estate agents specialising in valuing and marketing land for sale.
They’ll advertise your land and screen buyers. They’ll also negotiate offers and complete paperwork.
Sell it yourself
You can also sell your land independently by advertising in local papers and online platforms.
This is the most affordable option. But it requires more time and effort on your part. Consider hiring a solicitor to help with the legal side.
If your land has the potential for housing or commercial development, you can sell it to a property developer.
Land auctions
Auctioning land is another fast method of selling it. However, you have less control over the final sale price.
Land auctions happen regularly across the UK and are a public bidding process.
How much can I sell my land for?
The average price of land in the UK is approximately £11,000 per acre as of 2024.
The actual cost of any given land varies according to multiple factors.
Location
Is the land in a desirable location near transport links, shops, schools, etc.?
This raises value if you’re close to local amenities. But it’s less desirable for investors if you’re in the middle of nowhere.
Planning permission status
Does it have planning permission for development or potential to get it?
Land with ready-to-go permissions sells for more. You should get this sorted before you try to sell.
Land contents
Are there any buildings, utilities, or natural features on the land?
If desirable, these can increase the price. For example, trees, water features or old buildings could all add value.
Likewise, undesirable features could decrease the price. For example, a septic tank, poor soil or Japanese knotweed.
Surrounding land prices
What are similar plots of land selling for in the area?
Checking prices for comparable land gives a benchmark. This is extremely useful, as prices move based on location.
Restrictions
Are there restrictions on how the land can be used?
These include covenants and easements. Their nature will make a difference – i.e., the stricter it is, the more it will reduce the value.
Does land sell for as much as a property?
Land tends to sell for less than a property or house on a plot of comparable size.
There are a few reasons for this.
The land has development costs
Building housing involves construction costs that are reflected in property prices.
Land needs this work to become usable space.
Land (often) lacks rental income
.
Properties can generate rental income while waiting to sell, while empty land often creates none.
There are exceptions though, such as land rented out for:
- Farming
- Mobile homes
- Camping
- Other activities (spots, events, etc.)
Land requires infrastructure
Properties usually have existing access, utilities, and services.
But, land often needs roads, wiring, and water pipes installed. This reduces its value.
Land takes longer to sell
Empty plots can stay on the market for longer than desirable properties.
This lack of demand drives land prices lower.
