Housebuilders' shares tumble on back of mortgage market chaos

Of the 12 companies whose shares fell furthest on Thursday six of them were involved in the property market directly or indirectly.

Shares in Barratt Developments fell 12.54% to 324.2p; Taylor Wimpey fell by 7.17%, to 84.44p; Persimmon fell 5.56% to £11.80; and Berkeley's shares were down by 4.64%. Shares in Rightmove, the property portal, fell by 5.50%, to 477.80p, and shares in Kingfisher, which owns the hardware chains B&Q and Screwfix, fell by more than 4.5%.

More than 300 residential mortgages were withdrawn from the market in the past day, meaning 40% of products have been taken off the market since the chancellor's mini-budget on Friday.

About time property prices crash

hiltonholloway They are waiting for the BOE to announce the interest rate rise which should be done sooner than later. It won’t be drastic though. When it’s done the mortgage products will come back.

Has everybody’s value fallen or is it just the ones taken off the market.

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