Big jump in unsold London top end homes

The number of unsold central London homes under construction will reach a record high this year, increasing the risk that developers’ bets on rising demand for luxury properties will go sour.

Homes being built without a buyer secured will reach 10,829, a 24% rise from the end of last year, according to a report by Molior London seen by Bloomberg News.

That is the highest figure since the researcher started collating the data in 2009.