Developers launched half the number of residential schemes in London in March compared with a year earlier, as coronavirus lockdown saw the housing market effectively frozen.
There were just 12 new-build projects in March, down from 24 in the same month last year, according to London Residential Research.
The schemes comprised a total of 615 homes, compared with developments of 2,063 homes the previous year.
Berkeley’s St George brought forward its 286-home scheme at Grand Union on the Northfields Industrial Estate in Brent and Bellway launched the 281-home Beckton Parkside in Newham.
LRR reported some 52 new residential developments launched in the first quarter of the year, down from 72 last year.
So far this year, Hackney has seen the greatest activity, with eight new schemes, followed by Newham with seven and Wandsworth with five.
In 2019 there were 268 new residential schemes brought to the market in London. These developments comprised some 20,642 homes.
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