UK homebuilders fall after budget lacks clarity on first-time buyer plan
BUZZ-UK homebuilders fall after budget lacks clarity on first-time buyer plan ** Shares of British homebuilders fall after lacks of clarity in Labour government's budget on much-awaited scheme for first-time homebuyers
** Timeline of finance minister John Healey's 'Your First Home' scheme looks later than ideal and could miss the start of the crucial spring selling season, analysts say
** Homebuilders sector index .FTNMX402020 fell nearly 6% after the budget speech
** Analysts also said the 4% fee to be paid by developers on more than 250 homes sold was higher than expectations of a nominal fee of around 1%
** Barratt Redrow, BTRW.L, Taylor Wimpey TW.L, Persimmon PSN.L and Crest Nicholson CRST.L were all down 7%
** Vistry VTYV.L fell 4%, while MJ Gleeson GLEG.L was flat
** YTD, BTRW had fallen ~17%, TW had fallen ~26%, PSN had fallen ~9%, VTYV had fallen ~58%, GLEG had fallen ~30%
(Reporting by Yamini Kalia in Bengaluru)
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