London housebuilding drops sharply as Help to Buy scheme ends

New analysis shows that housebuilding in London fell sharply in the second half of 2022, with private developers beginning work on just 4,640 residential units in the capital. According to a study by alternative-funding provider Wayhome, this is down from 10,950 in the previous six months and 7,030 in the same period the previous year. Experts say the end of the Help to Buy scheme, which closed to new entrants in October 2022 and required building work to finish by January 31, 2023, contributed to the fall. Meanwhile, figures collected by construction insight specialists Glenigan show that just 84 private housing projects started in London in the six months to the end of March 2023. This was down by more than a third from the previous six months, and by more than half from the same period a year earlier.

Evening Standard (20/04/2023)