Property companies’ share prices knocked again as Brexit hangover clings on
It's been a rough week for property companies – and this morning has been no different.
The biggest firms' share prices have fallen off the wrong side of the bed again today as the big Brexit-hangover continues to plague the industry.
Read more: Aviva and M&G become latest property funds to suspend trading as investors flee
Housebuilders
At time of writing, Persimmon's share price was down 2.78 per cent, Berkeley Group's share price was down 2.41 per cent and Taylor Wimpey's share price was down 2.72 per cent. Bovis Homes' share price fell 3.83 per cent.
Barratt Development's share price was one of the hardest hit in morning trading, down 5.26 per cent.
Commercial property
Land Securities' and British Land's share price fell by 1.43 per cent and 1.36 per cent respectively.
Commercial real estate stock has been performing particularly badly this week after Standard Life, Aviva and M&G Investment's property funds closed their doors to investors trying to draw out money. Without the ability to liquidate assets quickly, the funds were unable to provide investors with their money at short notice – and their cash reserves hit the buffers.
Read more: Retail property boss warns against panic selling
Liberum analysts said on Monday they thought the risks surrounding commercial real estate have increased. Despite real estate property bosses calling for calm, a sell-off ensued.
Estate agents and property development
Savill's share price fell by 3.73 per cent in early morning trading, Foxton's share price fell 2.75 per cent. Great Portland Estates' share price was down 3.10 per cent.