Shares in housebuilding firms have slumped again as the market responded negatively to the chancellor’s announcement of a £350bn package of measures designed to offset the impact of the coronavirus pandemic.

Persimmon, Barratt and Taylor Wimpey, the three largest housebuilders by value, fell 10%, 11% and 8% respectively in early trading, with all other listed firms following a similar path. At one point, Barratt was the fifth-fastest falling firm on the whole London Stock Exchange.

This morning retirement housebuilder McCarthy & Stone said it was cancelling its final dividend payment of the year due to the uncertainty created by the pandemic.

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