London has record number of unsold homes under construction
NEW homes in London used to fly off the shelves even before construction was finished. Now the capital faces a record glut of unsold units as the housing slump deepens.
The number of unsold homes under construction increased to 31,508 units as of March 31, the highest level recorded since Molior London began compiling the data a decade ago.
The borough of Tower Hamlets, home to the Canary Wharf financial district, had the largest number, followed by Greenwich.