The growth rate of housebuilding in London is slower than in England and Wales, according to analysis of energy performance certificate (EPC) figures. Housebuilders have been forced by the government to cut their output as demand for new homes has fallen sharply. About a fifth of new housing was delivered in just three boroughs — Tower Hamlets, Greenwich and Newham. However, EPCs issued in England and Wales combined increased 27% to 254,894 in the same period, while in the North-West they rose 56%. Property experts cited tougher planning demands, higher property taxes and Brexit uncertainty for the slower growth in London.
The growth rate of housebuilding in London is slower than in England and Wales, according to analysis of energy performance certificate (EPC) figures. Housebuilders have been forced by the government to cut their output as demand for new homes has fallen sharply. However, EPCs issued in England and Wales combined increased 27% to 254,894 in the same period, while in the North-West they rose 56%. Property experts cited tougher planning demands, higher property taxes and Brexit uncertainty for the slower growth in London.