The value of luxury residential London developments to be built over the next decade has grown 32% to £50bn.


EC Harris, which reported the surge, said the number of homes planned had risen by a similar level to more than 20,000. The consultancy reports a split in the market for luxury flats between the “lower” end at £1m-£1.3m and the upper end where prices exceed £1,650 a sq ft. EC Harris lists several risks to the market including the prospect of sterling strengthening and political intervention.