The number of new houses being started in central London slumped by 75% in the final quarter of last year, figures from JLL show.
Some 1,270 houses were started, the lowest number since 2011. JLL described figures in three of the four quarters of 2016 as being particularly low.
Its head of UK residential research, Adam Challis, said weaker values were hurting developers’ revenue, while build cost inflation was ahead of expectations.
