Dozens of new-build projects in London have been abandoned as the Government faces claims it is set to miss its housebuilding targets.
In an echo of the financial crisis, construction sites across the capital are being boarded up.
According to a report by Molior Consultancy, work has stopped at one in six housing construction projects, including developments with more than 20 private homes.
Those projects would have provided up to 5,400 homes, the research suggested.
Weakening buyer demand combined with the long-term effects of inflation and rising costs have created a perfect storm in the housebuilding sector.