Housebuilder shares tumble

Housebuilders’ shares fell on Thursday after the Royal Institute of Chartered Surveyors’ latest survey of the sector indicated a weakening housing market.

Shares in Taylor Wimpey (-2.98%), Barratt Developments (-2.88%) and Persimmon (-2.92%) were all down, as the housing market in London and south east pulled down overall house prices.

Shares in Savills were unchanged despite a strong set of results in which the company reported 15% growth in revenue to £714.4m and 12% growth in underlying profit before tax to £48.1m.

Capital & Regional’s shares traded up 0.89% after the company reported generating £1.8m of cost savings in half year results.

Shares in Tritax Big Box Reit were down 1.08%, despite strong results in which the company revealed a 3.3% rise in NAV per share.

Derwent London’s shares also remained flat despite the company increasing its guidance for rents and yields in 2017.

The FTSE 100 index was down 1.44% to 7,390 points.

Related Articles

Have your say

Sign in to make a comment on this story.

Sign In

Text size

Desktop Site | Mobile Site