Taylor Wimpey halts new residential projects in London

Taylor Wimpey has announced it will halt new residential development projects in London, citing a lack of financial viability. Chief Executive Jennie Daly stated that the reward for undertaking high-risk development in the capital has ‘evaporated’ due to escalating construction expenses and regulatory burdens.

Key drivers for the decision include stricter building safety mandates, such as the requirement for a second staircase in residential buildings exceeding 18 meters. Additionally, developers have criticized the Greater London Authority’s affordable housing review mechanism, which allows officials to increase the required proportion of affordable homes after a project has been initiated, potentially eroding projected profits.

The company will continue to complete existing projects but has already seen a decline in completions. In the first half of 2026, Taylor Wimpey completed 4,986 homes, down from 5,264 during the same period the previous year. A spokesperson for the Mayor of London acknowledged the challenges facing housebuilders while stating efforts are being made to deliver more housing.