U.K. Property Outlook Worsens as Barclays Cuts Homebuilders
By
Cranes stand above residential and office blocks under construction in London.
The outlook for the U.K. property market is getting a whole lot worse.
Barclays Plc cut its homebuilder ratings and London investor Great Portland Estates Plc warned about weakening office markets in the U.K. capital on Thursday as Britain’s economic prospects worsen following the vote to leave the European Union.
“Recent events have spooked markets — with good reason,” Barclays analyst Jon Bell said in a research note on Thursday in which he downgraded U.K. homebuilders to hold from buy. “Though we are cautiously optimistic, believing a policy response is likely, recent events lead us to lower our industry view.”…
U.K. Property Outlook Worsens as Barclays Cuts Homebuilders
