Green shoots and cautious optimism

L&Q staff were invited to the Building Centre in central London to hear the opinions and predictions of private sector consultants, advisors and agents.

L&Q Land Director, Mike Johnson, said: "This was an excellent opportunity for us to network with and hear the views of several private sector experts. The general consensus was that the green shoots of recovery are starting to appear in the housing sector and there is a feeling of cautious optimism returning.

"On the negative side, land values are likely to take a long time to return to the highs that we saw prior to the credit crunch, most land owners are unwilling to sell at a big loss and the banks are still extremely wary about lending.

"However, there are a number of viable opportunities which can be seized upon by developers with a strong track record of delivery who are prepared and able to adapt to the new market conditions."

Mike added: "At L&Q we pride ourselves on a track record of delivery, innovative thinking and adapting to overcome obstacles. This should set us in good stead to grasp the opportunities which come our way over the coming months and years."

The panellists at Tuesday's seminar were: Tim Craine, from Molior London Ltd; Murray Smith from Site Sales; Mark Dorman from Strutt and Parker; Stephen Jennings from DTZ; Ed James from Savills; Pascal Levine from King Sturge; and Phillip Browne from Knight Frank.