Brexit chaos causes housebuilder shares to crash

Taylor Wimpey

Shares in housebuilders fell dramatically this morning as Taylor Wimpey, Berkeley Group, Barratt Developments and Persimmon all saw loses of nearly 10% in morning trading as the UK was thrown into political turmoil over Brexit.

Taylor Wimpey’s shares fell 9.1% to 147.35p early Thursday afternoon as Berkeley Group saw a 7.05% drop to 3,400p, Barratt slid 8.35% to 500.2p and Persimmon lost 9.52% to 2,128p.

Charlie Campbell, real estate analyst at Liberum said: “It is not just in the housebuilders but things that are viewed to be adversely affected by either a hard Brexit or a Corbyn government housebuilders will be in the crossfire of that because they are high ticket items for the consumer and therefore the ultimate thing that will be affected by consumer confidence.”

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