City Of London
Homebuilders Down 50% This Year as UK Crisis Deepens Under Truss
- UK sector loses £22 billion in value as mortgage market hit
- Share prices suggest builders will have to write down land
Some homebuilders are trading at 30% discounts to the amount they originally paid for the land that they own.
Photographer: Luke MacGregor/BloombergThis article is for subscribers only.
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UK homebuilders have lost half their value this year as tax cuts announced by Liz Truss’s government plunged the sector further into crisis.