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Vistry says housing market slowdown persists and plans 200 job cuts

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The housebuilder said it will cut hundreds of jobs as part of a restructuring that focuses on its affordable homes division.

Vistry has joined rival housebuilders in warning over weaker demand in the housing market as it prepares to shed around 200 jobs from the merger of two divisions.

But earlier this year, the group revealed that it had seen a slowdown in private sales during the summer months due to higher mortgage borrowing costs and inflation squeezing household incomes. Last month, Vistry unveiled plans to merge its housebuilding division with its affordable homes business Partnerships, through which it works with local government authorities and housing associations to build lower-cost homes.

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