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London’s Housing Crisis Deepens | Real Estate News
London’s housing crisis is hitting hard—planners aim for 88,000 new homes yearly, but only 4,170 broke ground last year, while the population swells by 100,000. Developers blame a decades-old, overly bureaucratic planning system that kills projects through local pushback and subjective reviews. Across the UK, plan rejections jumped from 20% to over 30% since 2000, and 281,000 approved homes sit idle due to financial collapse. The construction industry is reeling—employment down 21% since 2017, with 5,000 homes halted last year as contractors folded or funding vanished. Even government…
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