London hit by record downturn in affordable housing

London is facing a severe downturn in affordable housing supply, with a sharp decline in housing starts and rising homelessness as a result. High interest rates, building safety costs, and lack of government funding are cited as major factors contributing to the crisis. The Mayor of London has warned of the most challenging period for housebuilding since the 2008 financial crash, with experts predicting a prolonged decline in home completions.

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