Housebuilder shares hit for second day

Housebuilders succumbed to a second straight day of stock market losses on Thursday, as a leading homes sales survey showed slowing growth.

The the news that The Royal Institute of Chartered Surveyors’ latest monthly house price balance dropped 5 points to plus one in October led to big falls across the sector.

Persimmon led the fallers among FTSE 100 housebuilder fallers with another day of share price losses, down 3.97% to £26.62, while Barratt Development was down 3.62% to 612p, and Taylor Wimpey fell 2.89% to 191.7p.

Among the FTSE 250 housebuilders, Redrow shares plunged 6.86% to 597.5p after it said after trading in the first 18 weeks of the new financial year was in line with expectations, but noted a slight slowdown in sales in recent weeks. Shares in Bellway also fell, by 5.9% to £34.15.

On the broader markets the FTSE 100 was down 0.56% to 7,487.59, while the FTSE 250 fell 1.12% to 20,071.87. Meanwhile, the pound was up 0.06% against the dollar at 1.3123 and 0.33% lower versus the euro at 1.1273.

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