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UK builder Persimmon flags volume hit on labour and material shortages

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Reuters UK

By Aby Jose Koilparambil (Reuters) – Britain’s second-biggest homebuilder Persimmon warned on Thursday it would build fewer homes this year as it grapples with shortages of material, labour and delays in planning, sending shares down by more than 5%. Rising materials and labour costs along with issues with supply chain and the planning system have troubled Britain’s housing sector, but most of the major homebuilders have said they were able to tackle these pressures due to red-hot house prices. UK house prices have remained at strong levels, although the pace of growth has cooled in recent mon…

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