London Development Barometer

London Development Barometer - Autumn 2017

25 October 2017

The results are in for the first London Development Barometer.  In a year where uncertainty is becoming the new normal, 243 industry professionals, with an average of 21 years' experience and representing a cross section of sectors and expertise, have delivered a clear verdict: central and local governments need to do more to enable London development activity over the next five years.

This comes as 80% of the respondents are predicting a negative fallout as a result of Brexit, as well as construction skills and capacity (78%), construction cost (70%), supply of land (66%), and stamp duty (66%).  However, they do see a silver lining in government interventions like Crossrail 2, government invesment and mayoral policies, with 82%, 67% and 53% believing these will have a positive impact.

The key findings, shown below, show the industry's pragmatic approach to the challenges ahead.  Generally confident in the market demand for all sectors except retail, it has placed priority for central and local government on measures like improving town planning policy, funding for local authorities and infrastructure, and releasing development land to help bolster development activity in London. These are practical measures within government control, while drama of Brexit and other political-economic dynamics continue to unfold.

LDB Infographic Autumn 2017 crop