London development stalling despite rising planning approvals

An analysis of all housing developments of at least 10 houses and flats that were approved by London councils in 2015 has found that work had started on only 54% of them within three years. Almost 57,500 homes were given consent that year but by the end of 2018 construction was only under way on 46%, the same proportion as in the previous year. The number of applications fell last year by 17%, although the number of permissions rose. The figures, compiled by Grant Thornton, also show a 30% drop in affordable homes completed last year, despite a threefold rise in planning approvals.

Evening Standard (28/05/2019)