UK housebuilders face steep drop in home sales

UK housebuilders face steep drop in home sales The UK housing industry is expected to see a significant decline in home sales, with the country's largest housebuilders projected to sell 18,485 fewer homes this year, equivalent to a 27% fall. The figures from RBC Capital Markets, on its estimates for completion numbers from FTSE 100 and FTSE 250 companies, found Persimmon is forecast to have the biggest output fall in its financial year, 39.5%. Anthony Codling, head of housing research at RBC Capital Markets said: "The impact of the mini-budget and the cost of living crisis sent shockwaves through the housebuilding sector and the housing market waters remain choppy". Mr Codling also pointed to recent house price weakness leading some firms to take a wait and see approach on some building. 

Evening Standard (23/10/2023)