Anthony Duggan: housebuilding starts in London have defied economic conditions
Housebuilding activity in London has seen a 40 per cent increase over the last year, according to research from property consultancy and advisory service Drivers Jonas Deloitte’s latest Residential Crane Survey.
North and east London were particularly active areas, with 950 and 1,050 homes completed in 2011 respectively, a trend that the report links with this year’s Olympic Games. “There is clear evidence of a significant rise in overall construction levels at a time when economic conditions could have led to developers holding back,” said Drivers Jonas Deloitte head of research Anthony Duggan.
But the report warned of a slowdown in starts this year which is likely to affect 2012’s figures.