Pressures on London market are holding up housebuilding
30th May 2018
Government intervention has calmed the capital’s residential market but, in turn, that means fewer homes being built.
From a low of 2,080 in 2009, the market reached a peak of 15,728 in 2015, according to research from Molior London – the numbers suffered a momentary blip in the upper price bracket in 2014 thanks to the introduction of higher stamp duty rates. However, in 2016 new-build starts fell to 11,876 and in 2017 they slumped to 10,105.
So what’s to blame for the drop off in numbers and when will housebuilders start building in the capital again?