Taylor Wimpey says it will not start new London developments, citing broken viability
Taylor Wimpey's chief executive said the company does not plan new London schemes because returns no longer justify the risk. Berkeley Group has also said it can no longer invest in new London sites, while Sadiq Khan and Angela Rayner point to their efforts to unblock housing.
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The story, neutrally told
Centre · 1Taylor Wimpey, one of Britain's biggest housebuilders, has said it will stop launching new housing developments in London. Evening StandardN “One of Britain's biggest housebuilders has said it will stop launching new housing developments in London” Read at Evening Standard ↗ Mixed · 2Chief executive Jennie Daly told The Times' business podcast that "Baseline viability is, I think, fundamentally broken in London" and that the reward for such high-risk development "has just evaporated". Evening StandardN “"Baseline viability is, I think, fundamentally broken in London."” Read at Evening Standard ↗ City A.M.RC “The reward for undertaking what is a very high-risk form of development in London has just evaporated.” Read at City A.M. ↗ Mixed · 2Asked by the podcast whether Taylor Wimpey would commit to further projects in the capital, Daly replied "No"; the company is expected to complete its existing London projects. City A.M.RC “Asked if Taylor Wimpey will commit to further projects in the capital, she told The Times’s The Business podcast: “No.” Read at City A.M. ↗ Evening StandardN “Taylor Wimpey is expected to complete a number of existing projects in the capital” Read at Evening Standard ↗
Centre · 1She cited rising construction costs, additional taxes, planning requirements and weaker market conditions, including the rule that residential towers above 18 metres need a second staircase, introduced after the Grenfell Tower tragedy. Evening StandardN “rising construction costs, additional taxes, planning requirements and weaker market conditions”“a measure introduced following safety concerns raised after the Grenfell Tower tragedy” Read at Evening Standard ↗ Centre · 1Daly also criticised the Greater London Authority's viability review, under which developers can be required to raise affordable housing contributions if a completed scheme proves more profitable than forecast, and said weaker foreign off-plan buying had removed a way for developers to reduce risk. Evening StandardN “If it proves that I have made a good bet, effectively, and invested well and my scheme is profitable, I'd have to increase the level of affordable housing contribution,”““We don’t have a strong domestic market on off-plan purchasing,”” Read at Evening Standard ↗ Mixed · 2The Evening Standard reports Daly admitted Labour has made progress improving the planning system, but said this is not yet reflected in planning decisions; City A.M. says affordability challenges have suppressed demand. Evening StandardN “While Ms Daly admitted that Labour has made progress to improve the planning system, the consequences have not yet been reflected in planning decisions.” Read at Evening Standard ↗ City A.M.RC “these barriers are compounded by the “affordability challenges” which have suppressed demand for new homes” Read at City A.M. ↗
Right · 1Berkeley Group is in a similar position: City A.M. says a judge this week rejected its appeal over its 867-home Aylesham Centre scheme in Peckham, which Southwark Council had refused on heritage grounds. City A.M.RC “This week, a judge rejected Berkeley’s appeal against the rejection of its plans to build 867 new homes on the site of a shopping centre in Peckham.”“initially rejected on heritage grounds” Read at City A.M. ↗ Mixed · 2Berkeley's Motspur Park Gasworks scheme in Kingston (586 homes) has been put on hold by the government despite approval by Sadiq Khan, and Berkeley has written to the housing ministry asking why, according to City A.M. City A.M.RC “has been put on hold by the government despite already being approved by London mayor Sadiq Khan” Read at City A.M. ↗ Evening StandardN “the Motspur Park Gasworks 586-home development by Berkeley Group was frozen by Housing Secretary Angela Rayner” Read at Evening Standard ↗ Right · 1Berkeley executive chair Rob Perrins called the Peckham case a "10-year planning nightmare" and said heritage objections are used as "a blocker"; City A.M. understands Berkeley has not bought new London land for over four years, has cut its London delivery target from about 6,000 to 3,000 homes a year and has halved its on-site workforce there. City A.M.RC “This 10-year planning nightmare demonstrates the gulf between positive planning policies and what actually happens when you try to build homes in London.”“The firm’s housing delivery target for London has fallen from about 6,000 to 3,000 homes per year and the group has halved its on-site workforce in the city.” Read at City A.M. ↗
Centre · 1Sadiq Khan says he has been "bolder and more interventionist", with City Hall saying he has intervened in eight major schemes this year and that 10,058 homes will be delivered as a result. Evening StandardN “This year alone, Sir Sadiq has intervened in eight major schemes”“City Hall said that 10,058 homes will be delivered this year in the capital due to the Mayor’s intervention.” Read at Evening Standard ↗ Mixed · 2Housing Secretary Angela Rayner said the government is backing the Mayor so good schemes are not left in limbo; City A.M. adds she recently called the government's target of 1.5 million homes by 2029 a "stretch target" with delivery lagging far behind. Evening StandardN “That’s why we’re backing the Mayor of London in getting more homes built – making sure good schemes are not left in limbo” Read at Evening Standard ↗ City A.M.RC “The government has pledged to build 1.5m homes by 2029 but housing secretary Angela Rayner recently admitted that this is a “stretch target,”” Read at City A.M. ↗
Every sentence links to the reporting it rests on. The pill in front of each says where its sources sit: Left, Centre or Right when one side supplies at least half of them, Mixed when they are evenly split. The number is how many outlets it cites.
Left0 outlets
No left outlet in our sources has covered this story yet.
Centre1 outlet
- Framing
- Leads on Taylor Wimpey's withdrawal as a blow to London's housing efforts, then gives City Hall and government responses at length.
- Emphasis
- Daly's quotes on viability, the GLA review and second staircases, plus Khan's interventions and the 10,058-homes figure.
- Leaves out or plays down
- Does not mention Berkeley's falling London targets or workforce cuts, or Rayner's 'stretch target' admission.
- Charged language
- “dealing a fresh blow”
- For example
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“dealing a fresh blow to efforts to tackle the capital's housing shortage” — Evening Standard
Right1 outlet
- Framing
- Presents a wider exodus of housebuilders from London, blaming Labour-era planning and red tape.
- Emphasis
- Berkeley's Peckham defeat, Perrins's criticism, Berkeley's retrenchment and the lagging national housing target.
- Leaves out or plays down
- Does not include Khan's or City Hall's statements on call-ins and homes unblocked, or Daly's acknowledgement that Labour has improved planning.
- Charged language
- “nightmare”“red tape”“downright offensive”
- For example
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“Top housebuilders have begun to pull out of London citing a “nightmare” of planning objections that have made developments unviable.” — City A.M.
What every side reports
- Taylor Wimpey chief executive Jennie Daly said on The Times' podcast that London development viability is 'fundamentally broken'.
- Daly cited the second-staircase rule for towers over 18 metres.
- Berkeley's Motspur Park Gasworks scheme has been put on hold by the government and its Peckham scheme was refused.
Where accounts differ
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Who is responsible for London's housing slowdown
- Centre
- Mayor and minister say they are intervening to unblock schemes; Daly says Labour has improved planning but decisions lag.
- Right
- Blames Labour planning and government blocking for making development unviable.
Taylor Wimpey organisation
Says London viability is broken and it does not intend to bring forward new schemes, while finishing existing ones.
“Ms Daly indicated the company does not currently intend to bring forward further schemes.” — Evening Standard
Berkeley Group organisation
Says planning decisions block housing and it can no longer invest in new London sites, though it will complete existing ones.
“Berkeley is committed to completing its existing sites in London” — City A.M.
“developers, including Berkeley, can no longer invest in new London sites” — Evening Standard
Left0 articles
No coverage yet.
Centre1 article
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Taylor Wimpey to stop building homes in London as development ‘reward has evaporated’
Neutral Reports Daly's announcement and balances it with Mayor and minister statements on unblocking homes.
Right1 article
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Housebuilders pull out of London over Labour planning ‘nightmare’
Critical Casts the pullout as a sector-wide result of Labour planning failures, foregrounding Berkeley's grievances.
- 8 Oct 11:19 First Evening StandardN Taylor Wimpey to stop building homes in London as development ‘reward has evaporated’
- 8 Oct 14:37 +3h 18m City A.M.RC Housebuilders pull out of London over Labour planning ‘nightmare’
Times are when each article was published, or when we first saw it if the outlet gave no time.