I'm building 24 houses at the moment and have deposits on 17 off plan. If the properties in the right area and the right spec it WILL sell for the asking price FACT.
Bread and butter new build starter homes (up to 200k) are hard to shift in the current climate but 350k new builds are selling pretty easily and 500k to 2m pads have never been easier to shift.
Now IS the time to buy land IF you can afford to sit on it for a couple of years.
i'd personally be waiting longer as it will keep dropping, what goes up must come down, how can prices be put up if people cant afford them? basic buisness, if you cant sell something soo high, it wont sell, so you have to lower the profit margin so you can sell more to make your money (my opinion) lol