Will housebuilders profit from the nutrient neutrality changes?
The Government faced a furious backlash from environmentalists on Tuesday after– a move it says could allow 100,000 extra homes to be built.
Following the policy announcement, the share price of UK housebuilders increased by 4 per cent and for some it rose by more than 7 per cent. Pop star turned environmental campaigner Feargal Sharkey claimed that major builders including Barratt, Persimmon and Taylor Wimpey had made “£493,964,000 in just 8 hours 30 minutes”.fact checks these claims below, and looks at how much housebuilders could have really benefited from the announcement.In a short answer, no.
Most of the big builders’ share prices have crashed over the last five years, with some dropping by over 50 per cent. This is because of the end to help to buy scheme, a rise in interest rates which means buyers find it harder to borrow money to purchase houses, and poor relations between housebuilders and the Government, with Mr Gove labelling the big developers a “cartel” in 2021 in a dispute over cladding.
However, the market still looks turbulent for developers. High interest rates, slow progress on planning permissions and a quiet property market means we are unlikely to see a £75m bonus for housebuilding chief executives, as seen in 2018.
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