The number of homes built by private companies reached 23,130 in 2018, a 15% YoY drop on, and more than 10,000 below, the peak 2015 figure of 33,774. In terms of total new homes, there were just over half as many completed units this year compared to 2015, with an increase from 5,600 to 6,300. In addition, the study revealed half of London flats under construction have no buyers lined up, compared with one third in 2014.
The number of homes built by private companies reached 23,130 in 2018, a 15% YoY drop on, and more than 10,000 below, the peak 2015 figure of 33,774. The data from Molior London was dubbed "depressing reading", with planning delays, council and City Hall demands for more affordable housing and rising costs cited as the reasons for the slowdown. In addition, the study revealed half of London flats under construction have no buyers lined up, compared with one third in 2014.