Big housebuilders were thrust into the stock market’s spotlight – again – but for all the wrong reasons. Sentiment had already soured towards some of the sector’s leading names, which have admitted to a drop-off in trading, and the latest house price data from the Office for National Statistics, which revealed that house price growth had stalled from August to September, the first time prices haven’t increased in nearly a year, offered few signs that the market was heating back up again. Add in the prospect of more interest rate rises and the builders were placed firmly on the back foot.
Shares in Persimmon fell by 40½p, or 3.1 per cent, to £12.82; Taylor Wimpey lost 2½p, or 2.4 per cent, to 101½p; and Berkeley
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