<p>The housebuilding model could be set to change dramatically as a result of the housing downturn, according to a new report published by London estate agent Knight Frank. The Future of Residential Development is based on interviews with more than 50 influential industry figures. Author John Neale, Knight Frank’s head of development research, finds that housebuilders have sold off land to buyers such as sovereign wealth funds, speculative investors and wealthy individuals who may not wish to use it for residential development. This “land transfer” could change the nature of the housebuilding business and how it operates, Knight Frank said. Neale commented that land values were unlikely to bounce back quickly after the recession and the way that the new landowners act upon this could have implications for housing numbers and housebuilders: “Many new investors may choose to hold onto their purchases, waiting for better returns. This could block development and further reduce housing supply. “Others could choose to develop the land themselves in phases, creating value by providing a high quality urban extension or new settlement, using housebuilders or contractors as planning and marketing consultants rather than selling plots or engaging them as partners.” </p> <p>The report also acknowledges …