Share prices in top construction drop on downgrading
Some ofthe U'Ks biggest property developers brought in the new year with bad news as far as their share price is concerned. Having had a bumper 2014 with big profits and payouts for shareholders the news that the share price has taken a hit will not be welcomed by shareholders. The downgrading of the shares came after stock broker Jeffries expressed concerns over the property market in 2015.
South East could see some falls in house prices
Jeffries also went onto say that there was a prospect of some house price falls in the South East of England. This may not come as a big surprise to many of us who have watched prices rocket over the past 18 months. The market has come off the boil in recent months and there have been some price falls across London towards the latter part of 2014. It remains to be seen whether this trend will continue in 2015. Publication on the research carried out by Jeffries went on to say that the second quarter of 2015 will also be negatively impacted by the general election and this will also impact on house builders.
The news saw share price falls for Persimmon Homes, Taylor Wimpy and Barratt Homes. Property companies and those that rely in the housing market also saw their share price drop. Countrywide saw their share price drop and London's larges estate agencies saw a a drop their shares. Foxtons shares saw a downgrade and others followed. The property sector has been through an incredible bumper year in 2014 and it looks like buyers are now catching their breath and having a look at the high prices of properties across London and the south-east.