Big housebuilders suffered a sharp sell-off yesterday in response to growing concerns about slowing growth in the housing market.
Data from Rightmove indicating that house price growth could almost halve by the end of this year as a result of affordability constraints hit a nerve with investors.
Persimmon’s share price fell by 86.5p (4.5%) to £18.51; Barratt Developments, Britain’s biggest housebuilder, lost 17.5p (3.7%) to close at 454½p; Berkeley Group Holdings dropped 161p (4.1%) to £37.30; and Taylor Wimpey slid 4p (3.2%) to 117p.
