U.K. Home Builders Fall After Report Shows Annual Drop in House Prices
Dow Jones
Sep 07
0841 GMT - Shares in U.K. home builders fell after Lloyds reported a 0.4% annual decline in house prices. This is the first on-year decrease since November 2023. According to Lloyds' house price index, some buyers have held back on purchases due to higher borrowing costs as well as the conflict in the Middle East. House prices in August fell 0.2% to 298,468 pounds. July's initial 0.1% growth reading was revised down to a 0.1% decline. "While affordability remains a challenge, wages continue to grow and employment has held up better than many anticipated," the report says. Vistry is down 1.4%, Crest Nicholson falls 1.2% and Taylor Wimpey is down 0.8%.
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