Stocks across Europe and elsewhere in the world were trading down today (8 September) as investors grappled with downbeat economic forecasts – and in London it was real estate that bore the brunt of the losses.
In the FTSE 100, which ended the day down by 0.75% at 7,095 points, property companies accounted for the five steepest falls of the session.
That included housebuilders Persimmon (down by 4%), Taylor Wimpey (-3.8%), Barratt Developments (-3.4%) and Berkeley Group (-2.8%), as well as Landsec (-3.5%). British Land, meanwhile, shed 2.5%.
The day’s biggest real estate fall, however, came from FTSE All-Share constituent Helical, which lost almost a tenth of its value to close at a month-and-a-half low of 431p.
There was better news for U+I, which this morning confirmed that it has received planning permission for its £770m Morden Wharf scheme in Greenwich. Its shares rose by 7% to 86.6p.
The FTSE 250 finished the day down by 1% at 23,848 points.
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