New build sales in London plummet

Sales of new-build private homes in London have fallen to historic lows, with just 19 properties sold in May, far below the usual monthly average of around 1,000. The collapse in activity, driven by soaring construction costs, regulatory backlogs, and the end of schemes like Help to Buy, threatens the capital's ability to deliver 440,000 of the government’s 1.5m new homes target by 2030. Industry experts warn that many approved development sites remain effectively abandoned, highlighting structural problems in London's housebuilding sector. 

The Standard (17/09/2025)