On Monday, shares of British real estate developers fell sharply, likely marking the biggest single-day decline in six weeks, after Crest Nicholson lowered its full-year profit outlook, causing its stock to plummet by 14.9%.
![20230821-163144](https://production-app-asset.traderknows.com/images/bcc11946fc3c4bc693146c9ecbd5bc9b.width-800.jpg?Expires=1728337757&Signature=0iImsbYi5nKPhyjeX2xHNLEGxE80x4fIcUVfgq~CxKrh~tuJ4nt6z-wa2c1YpjFudYsw0SIw5UM7IVSBwGli3rhFbZoEstiZ0bC7w4NHdfesXm6ISAdjtPHB0amPafoSjMQ2zJ3HJHVNOiyMuNex3WYZuRRmOxzOk~1AtVz7~r84GctW4OWx-tooRdrnA18lK-cgxguneS0LkWFTeCOT1x-Fo52kUIKJh3LC0r7gzg9~CV~A9hc0Nrt48KO7XrUJev1j3HRuIRRmNz5xYp42m8ezZG~T22yxT-jNRMf9pDDaWrTJcNXbDtn4HGiflUQGG6S7jlwanP195c-5lWlRKA__&Key-Pair-Id=K3LHBTUA5A7KEY)
As of 07:25 Greenwich Mean Time, the index of London-listed real estate developers fell by 3.2%, underperforming the market. In comparison, the FTSE 350 index rose by 0.1% and might reach its largest monthly decline since September of the previous year.
The trading environment, afflicted by high interest rates and persistent inflation, led to a sharp decrease in the number of homebuyers, prompting Crest Nicholson to lower its annual profit expectations.
![20230821-163329](https://production-app-asset.traderknows.com/images/58e235ff612b40d08d42eccf77495611.width-800.jpg?Expires=1728337757&Signature=hcicjU0CdzCmSmtPNi5oJlwUfP9pGjbNTQ~3naGR0Nk2piuX0QIetSQg6wbzkRnpvtZ2N21WYrXq17WJd~RU1QP1LUIAJuBhrXXoHmYkl9DMaHzFW-MHNuRTDVIU3A~hKSizEd51C-R8Zk0mGBwqSR45j0juwKSexHFf6yR28G2YQSFKn~I-DSImZD10Me0HmpysNVEUIVxndwU-mroxjEPe9h8-e-85DJ6e~Cw5yD4EWRK6wbctC0-~oVl0t7bbQTmEQOZVzhlVRcnLxSLAbwGn9FSbj3DX8ohBUKoK9RciXMPN1OKuaEbxyXZWtp36~~Wblx7dsjRdYWDcSHQi0g__&Key-Pair-Id=K3LHBTUA5A7KEY)
According to industry surveys, sellers have reduced their price expectations for their properties due to rising mortgage costs, resulting in a significant drop in the asking prices for homes in the UK this month.
![20230821-163405](https://production-app-asset.traderknows.com/images/fac7364435ae4c76a7d801a3768fd484.width-800.jpg?Expires=1728337757&Signature=cD~O2fqq2iBpv9ismsh0FPagEsw6M1epiZEamnhbIk5WUmgBLwnr~q4uSA0N4udTuHhZYILlc2RHArXvrr4mABhVK2HRLe2Unq5tAmyKJ8nmtDkjiSKPyXymK1LvzCyBBh3ENCA~4hU0EVEsrQjm~dNRVkOxctgByREWoEmS2KtdPNHXVqgpDuPmbiSkaQrVbRuMPY4cf1f3mzms8XXPXoVd86qUxuaTd1bxtZDpgju8A7L76izWET-P59t8e82mc9jYTkG~fVnqUZRHQ5rmpFmbZs4eRQ48kPrdIJ3jHgRKYJhQyOUO1lAjulzJoTmfqvXeJNy96a4uwA8V1Wx9eQ__&Key-Pair-Id=K3LHBTUA5A7KEY)