Housebuilders Suffering As Time Is Called On Their Rally [Edition 3]

Evening Standard - London › May 28, 2009

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Summary

THE rally among UK housebuilders, which has carried them 33% higher since hitting a low point in March, appears to be over.

Two City brokers made the claim today, sending shares in the sector sharply lower. Taylor Wimpey fell 2 1/4p to 29 1/4p while Persimmon dropped 21 1/2p to 338p, Barratt Developments 9 3/4p to 159 1/4p, Bellway 30 1/2p to 628p and Bovis Homes 15p to 384p.

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Housebuilders Suffering As Time Is Called On Their Rally [Edition 3]

American broker Citigroup points out that prices have fallen by between 20% and 25% since their peak in 2007 and are expected to drop by a further 15% this year while remaining flat in 2010. The recovery wi...

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