Demand for development land stalls as borrowing costs climb

'Investors are having to dig deeper into their savings to ensure the sums stack up on any new buy-to-lets,' says Hamptons.

Major housebuilders have cut back on land buying in an effort to ride out the weaker sales market, says Savills, with some pausing activity altogether.

The church 'has something unique to contribute to the housing crisis', says the Archbishop of Canterbury, Justin Welby