According to research conducted by a major UK real estate company, development in central London has reached an 8-year high, with 14.8 million sq ft of space currently being built. However, as the market is on its way down from the dizzy heights of summer 2015 we are seeing mainly refurbishments rather than new builds. New construction is down 42% since summer 2016, when 51 new schemes were started in comparison to just 40 this winter.