Housebuilder shares tank on announcement of £4bn cladding levy

By Joey Gardiner2022-01-10T10:45:00

Value of UK listed housebuilders falls by around £1bn in early trading

Housebuilder share prices have fallen sharply on the confirmation by government this morning that it expects the sector to contribute £4bn to pay to repair unsafe cladding in the wake of the Grenfell Tower fire.

The value of the five largest listed builders all fell by at least 3% in early trading in London today, with Persimmon at one point more than 4% down on its closing price last Friday.

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