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UK homebuilders' shares slump on "Help to Buy" worries
August 4, 2017 / 8:26 AM / 3 months ago

UK homebuilders' shares slump on "Help to Buy" worries

LONDON, Aug 4 (Reuters) - Shares of UK homebuilders slumped on Friday after an article in trade publication Property Week cast doubt over the future of the government’s “Help to Buy” scheme which is aimed at boosting home ownership among first-time buyers.

Persimmon shares, which hit an all-time high in the previous session, bore the brunt of the selloff falling more than 6 percent. Taylor Wimpey, Barratt Development and Bellway all fell between 4-5 percent in heavy volumes.

The Property Week article said the government had begun a review of the scheme which could result in it being wound down or replaced before its scheduled end in April 2021. (Reporting by Vikram Subhedar, Editing by Kit Rees)

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