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Downturn online: LONDON

As the driver of the UK economy and the location for the original housing boom, London has seen private housing dip. It has seen the value of private housing developments fall from £1.3 billion in 2007 to £783 million for the year so far.

And it looks like there is worse to come, according to Glenigan figures for planning approvals. In 2007 approvals for private housing were worth £1.9 billion but that value currently stands at £1.04 billion with just five months left this year.

Social housing bucks that trend. Starts on site last year were valued at £656 million and so far this year the value is already almost past that at £629 million.

Glenigan figures show that the value for industrial and offices or commercial developments have been hit.

For industrial the value for the 2008 to July stands at £97 million compared to £180 million for the whole of last year. Offices and commercial developments stand at £638 million while the whole of last year the value was £1.3 billion.

Hotel and leisure is not being affected too heavily as yet. Glenigan shows that the value so far this year of work in the sector stands at £162 million compared to £207 million for the whole of last year.

The value of utilities work so far this year stands at £122 million compared to £84 million for the whole of 2007.