Overview
- Taylor Wimpey announced on Thursday that it will not bring forward new schemes in London while it completes projects already under way.
- The chief executive said the decision reflects rising construction and financing costs, falling pre‑sales from overseas buyers, stamp duty burdens and weaker buyer demand.
- The company specifically cited post‑Grenfell safety rules requiring a second staircase in taller blocks and the GLA’s late‑stage viability reviews that can demand extra affordable homes if schemes prove more profitable than forecast.
- Other major builders have signalled similar troubles, with Vistry exiting open‑market operations in the south‑east and Berkeley seeing key London plans refused or held up, a pattern that has cut jobs and stalled local regeneration plans.
- City Hall and ministers say they will press boroughs and use mayoral powers to unblock schemes but analysts warn the pullback could make it harder to reach London’s housing targets and reduce new-home supply for renters and first‑time buyers.