Housebuilder shares plummet 11% in Q1

Springfield Dykes of Gray

Brexit and interest rate fears send shares tumbling further than the FTSE 100.

The combined value of the sector fell 11% over the first three months of the year to £38.1bn, while the wider FTSE 100 fell 8%, according to data from consultancy Building Value.

The sector’s performance is in sharp contrast to the first quarter of 2017, when housebuilder shares soared 16%. During 2017 as a whole, the sector was also a top performer, its shares ending the year 43% up, well above the FTSE 100’s 8% rise.

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