Threat of site closures looms over housebuilders

Joey Gardiner 3by2

With the coronavirus crisis likely to hit reservations hard, housebuilders face the prospect of having to halt construction work

As per usual, Berkeley Group was first out of the gate among the major housebuilders. It cancelled its dividend last week as it started to anticipate the scale of the coronavirus shock about to hit the industry.

Since then there has been a trickle of others following suit – Crest Nicholson and McCarthy & Stone. Expect that to become a flood.

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