Housebuilders Share Price Drop As Construction Market Stalls

Shares in some of the UK’s housebuilders dropped as fears of a UK exit from the European Union and a three-year low in housing delivery caused confidence in the industry to waver. The stocks have been some of the strongest in recent weeks, but talk of the residential market reaching a peak, particularly in London, and investors sitting on their hands while a decision about the UK’s future in the EU is made, mean there has been a price slide. Property broker Savills reported that values of homes in London’s most desirable areas fell for the third consecutive quarter as the market cools off amid wider financial turmoil. Construction figures for March showed output across the industry grew at a “subdued” pace last month. Read more on the Daily Telegraph website.