Boost to housebuilding shares

November 26, 2015

The stock market (FTSE 100) rose yesterday with housebuilding stocks leading the way after Chancellor George Osborne announced measures to support the sector in his joint Autumn Statement and Spending Review, by the end of the session the housebuilding stocks had come off their earlier highs but remained the top risers including Taylor Wimpey, Persimmon and Barratt Developments.

The boost to housebuilding shares was probably due to the housing market measures mentioned in the Autumn Statement which included the doubling of the Housing Budget, a £2.3bn funding pledge and reform of the planning laws towards delivering 400,000 affordable housing starts by 2020-21.

In contrast to the rise in housebuilding shares, Estate Agents finished flat on the day, that included, Foxtons, Savills and Countrywide, possibly the announcement that higher stamp duty for those buying and selling second homes and buy-to-let properties was the reason for that.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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