With markets stabilising, long-term value will be driven by planning certainty, sustainable placemaking and well-promoted housing sites across the region according to Peter Garrett, Managing Director of Keyland Developments, the property trading arm of Kelda Group and sister-company to Yorkshire Water.

Having written a number of “year ahead” outlook pieces over the years, it feels sensible to begin with a caveat. Whatever we might expect from the Yorkshire property market in 2026, there is always the possibility that global events, particularly those that might be euphemistically described as ‘unilateral geo-political interventions’ could render any prediction redundant. That said, short of further upheaval on that scale, the UK property market appears to be entering a more measured and selective phase, rather than one defined by a sharp upswing or downturn.

For those operating in planning-led development across Yorkshire, this environment is likely to continue rewarding patience, technical rigour and a deep understanding of the UK’s statutory planning system.

Planning reform will remain a dominant theme through 2026. While progress has not been rapid, there is now clearer momentum towards faster decision-making, a stronger focus on brownfield and urban regeneration, and a closer alignment between development and infrastructure provision. For land promoters like Keyland, this reinforces the importance of early technical work, robust engagement with local authorities and their communities and a flexible approach to site design and phasing.

Housing delivery remains a national priority and continues to underpin the market’s long-term fundamentals. In Yorkshire, population growth, household formation and ongoing affordability pressures mean the need for well-located new homes remains acute. However, the path to delivery is becoming increasingly complex. Local authorities are under sustained pressure to demonstrate a deliverable five-year housing land supply, yet many face constraints linked to resources, political sensitivity and infrastructure capacity. As a result, greater weight is being placed on well-promoted sites that can clearly evidence sustainability, deliverability and compliance with planning policy.

In the land market, conditions appear to be gradually stabilising following several years of disruption. While interest rates remain above the ultra-low levels seen in the previous decade, there is now greater certainty around the direction of travel. This is enabling landowners, promoters and developers to re-engage with projects that were paused while costs and values were in flux. The gap between land value expectations and scheme viability is narrowing, although it has not disappeared entirely.

That said, the market remains polarised. Prime, consented or near-consented sites in strong locations continue to attract competitive interest, particularly from well-capitalised housebuilders and regional developers. Conversely, sites with abnormal costs, infrastructure constraints or uncertain planning prospects require greater creativity and realism around pricing. In this context, promotion agreements and option structures are likely to remain key tools for unlocking value while managing risk for landowners.

Looking ahead, sustainability and placemaking will play an increasingly influential role in shaping both planning outcomes and land values. Biodiversity net gain, energy efficiency and climate resilience are no longer optional considerations, they are fundamental to whether schemes progress at all. Across Yorkshire, where many opportunities sit on the edge of market towns and cities, the quality of design and the integration of new development with existing communities will be critical.

In summary, the property market is entering a phase where progress is driven less by speculation and more by expertise. For planning-led businesses, this presents opportunity. Those able to navigate policy, unlock constrained sites and take a long-term view are likely to be well placed to add value, even in a more cautious market.