Sadiq Khan’s housing target in tatters with only 6,325 homes started – developers sit on unsold stock
Only 6,325 private sector homes broke ground in London in the first three months of 2026, new data has revealed – equivalent to seven per cent of the Mayor’s 88,000 overall annual target. Research from Real Estate consultants JLL suggests that developers are hesitant to build in the current market due to a proliferation of unsold stock. New data shows that 22,000 properties across the capital sit unsold or under construction, with all types of buyers unwilling to invest in the present circumstances. This is down to the newbuild premium – new homes cost 26 per cent more per sq ft than existing properties – soaring service charges, and an absence of incentives for potential purchasers. The issue is accentuated in London, according to Marcus Dixon, JLL’s Head of UK Living & Residential Research, who says that steps taken by the government and City Hall to address the housing supply crisis need to be supplemented by “demand-side reform”. He claimed developers now have less certainty that any properties built will be purchased on the market. …








