The UK is facing a chronic housing shortage, but
housebuilders’ shares have taken a hammering in recent months. On the surface
it is a conundrum. However, there are many forces at play. This year's changes
to stamp duty have been inflationary at the bottom end of the London market and
deflationary at the top. As a result, confidence and sentiment have been badly
hit. The EU referendum then heaped on a layer of uncertainty, depressing share
prices further. The sector is also being hamstrung by a shortage of skills and
some materials. Read more on the City AM website.
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