Major Housebuilder Abandons London Developments Amid Sluggish Demand
UKPulse Property Desk
A major housebuilder has reportedly abandoned developments in London, a move that could impact Sadiq Khan's housing targets.
- A major housebuilder has reportedly ceased London developments.
- The move is seen as a blow to Sadiq Khan's housing targets.
- Developers are facing sluggish buyer demand and higher costs.
A major housebuilder has reportedly abandoned its developments in London. This decision could impact Sadiq Khan's housing targets, which aim for 88,000 new houses annually in the capital, or 22,000 per quarter.
Developers are currently facing challenges due to sluggish buyer demand and increased costs.
Why this matters: The abandonment of developments could hinder London's housing supply goals.