Business Services Industry
Daily Mail, London, market report column.
Knight Ridder/Tribune Business News, October, 2004
By Geoff Foster, Daily Mail, London Knight Ridder/Tribune Business News
Oct. 21--BUILDERS GET THAT SINKING FEELING AS HOUSE SALES FALL: Unhappy housebuilders suffered from subsidence after one of the sector's biggest companies confirmed that the Bank of England's interest rate medicine is working. Five rises in UK rates since last November have taken the froth -- and a bit more -- off house prices and made prospective buyers think twice about stepping on to the property ladder.
Ahead of a dinner with analysts last night, the second-biggest UK-based housebuilder Taylor Woodrow warned that as a result of growing uncertainty among buyers, UK sales will fall 6 percent short of its forecast of 10,000 UK homes sold by the year- end. It sold 7,000...
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