Housebuilder Hill plans land buying spree in London

Hill Group, one of the UK’s largest private housebuilders, said it has set aside £300 million for a land buying spree in London.

Andy Hill, chief executive of the Waltham Abbey-headquartered firm, said: “London’s property market has proven to be very resilient, rebounding quickly after the ease of lockdown, and remains a prime area for investment and development.”

He added: “We are very well capitalised with a robust balance sheet and, while the current supply and demand dynamics persist, we are seeking attractive land opportunities to grow our pipeline yet further.”

A number of builders and estate agents have reported high demand for homes since lockdown restrictions in the housing market eased in May.

Buyers have benefited from a new stamp duty holiday that was introduced in July.