Housebuilding stocks had a dismal day on the back of comments from the Royal Institution of Chartered Surveyors (RICS) that the housing boom was coming to an end.
Wimpey fell 11.25p to 264.5p, Bellway slid 12p to 510p, Barratt Development moved down 8.75p to 401.25p, Bovis eased 4p at 382p, Persimmon fell 7p to 450p and Berkeley Group closed 15p lower at 659p.
RICS said the housing market did not look as if it was heading for a 1980s-style crash because low unemployment and interest rates would continue to support it. The comments followed the reporting of figures that showed the housing market slowed for the fourth consecutive month in January.
References: The Daily Telegraph 21/02/03 page 6, page 37 (The Market)
