LONDON: Britain’s housebuilders saw their share prices hit after Ed Miliband unveiled detailed plans to impose rent controls on landlords.
Almost £200 million was wiped off the value of Taylor Wimpey, Barratt Developments and Persimmon in the wake of Sunday’s announcement that Labour would bar private landlords from increasing rent by more than CPI inflation for three years.
The plans will see buy-to-let investors pull out of the market as Labour makes it unattractive to rent out properties, experts warned – worsening the shortage of available housing for the so-called “generation rent” Labour says it wants to help.
