Source link : https://london-news.net/headline-london-faces-severe-housing-crisis-as-private-home-construction-plummets-84-in-a-decade/
Home construction in London’s private sector has plummeted by 84% since 2015, even as the city requires 88,000 additional residences each year, according to a recent study.
Consultants from Molior revealed that in 2025, only 5,547 new private housing units were initiated, a stark drop from 33,782 in 2015.
Lord Bailey, a member of the London Assembly, remarked that the housing situation in London has shifted from “challenging to catastrophic,” emphasizing that “regular Londoners are bearing the brunt of the crisis.”
A representative for the Mayor of London stated, “Addressing our pressing housing dilemma is our foremost concern,” stressing that “Sadiq is making every effort to provide more available homes across various tenures.”
Bailey told the Local Democracy Reporting Service (LDRS) that “this has evolved beyond a housing emergency to a crisis impacting stability, opportunity, and dignity.”
He recalled warning years ago that the mayor’s approach would precipitate a decline in construction, which, unfortunately, has come to pass.
Approximately 18,326 residences are anticipated to be completed in London by the end of this year, which represents roughly half of the homes currently being built.
An additional 14,053 homes are not projected to be finished until 2027 or later, accounting for only 8% of the government’s ambitious two-year target of 176,000 homes for London.
This results in a staggering shortfall of 92%.
Furthermore, construction has…
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Publish date : 2026-01-25 17:03:00
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