London’s Housing Crisis Is About to Get Worse
- Construction and sales falter for capital’s new-build market
- City has worst quarter for sales since 2012, Molior data shows
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Sales and construction completion levels for newly-built properties in London have plummeted to their lowest level in around a decade as buyers dry up for the capital, in the latest sign that the city’s housing market is in crisis.
In the first quarter of 2023, sales of new homes slumped by 39% compared to the same period the previous year, to 3768, according to data compiled by Molior London and seen by Bloomberg News.