U.K. Homebuilders Buying Land Below 2007 Peak Set to Profit
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U.K. homebuilders are profiting from cheap land purchases just as property prices start to fall.
Developers are able to buy land for as little as a third of peak 2007 prices, London-based Savills Plc estimates. Those savings will more than make up for any weakness in the property market in the next three years, according to a shareholder in the industry’s biggest company.