Housebuilder Redrow’s share price has fallen sharply after its chairman and founder became the latest in a series of senior figures in the housebuilding sector to sell a substantial chunk of their stake.
Redrows Steve Morgan yesterday sold £153m worth of shares – or 7% of the company.
Separately the founders of Dublin-based Cairn Homes sold shares worth 2.1% of the company on Tuesday, and in recent days a number of directors at rival housebuilder Berkeley Group also cashed in some of their holdings.
