Recent months have seen a slew of developers turning their backs on London.
Even as big UK-wide housebuilders have been posting monster profits off the back of the government’s Help-to-Buy scheme (and, in the case of Persimmon, handsomely rewarding their management boards as a result), both Barratt and Crest Nicholson have said that they no longer see opportunities in the capital.
Berkeley Homes, which has been particularly prominent at the top end of the London market, has forecast a 30% fall in profits next year.
