this post was submitted on 21 Aug 2023
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UK housebuilders’ shares plunge amid fastest drop in asking prices in five years

Crest Nicholson forecasts lower profits after number of first-time buyers plunges

Britain’s housebuilders were the top stock market fallers on Monday morning after one of the biggest companies issued a profit warning and new data showed the fastest drop in asking prices in five years.

Taylor Wimpey led the fallers on FTSE 100, down 3%, with Persimmon, Berkeley and Barratt down about 2%. The property website Rightmove fell 1%.

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