The UK’s largest housebuilders saw some of the largest losses on the London Stock Exchange, as the dust settled on the government’s spending review yesterday (25 November).
Chancellor Rishi Sunak pledged to spend £20bn on new housing from 2021-22. However, the funds include a dramatic drop in Help to Buy finance, from 2018 pledges of £7.2bn to £5.3bn figures in the mini-budget small print.
FTSE 100 housebuilder Persimmon was the biggest loser, down 5.12% to 2,689p. In the FTSE 250, Bellway dropped 4.525 to 2,875p and Inland Homes dropped 4.69% to 61p.
Further drops were seen by Crest Nicholson (-3.09%), Countryside (-2.64%) and Vistry (-2.03%).
The FTSE 100 was down 0.44% to 6,363 and the FTSE 250 dropped 0.88% to 19,396.
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