Shares in U.K. housebuilders fall after a report shows U.K. house prices in June declined slightly month-on-month. According to Nationwide's house price index, average house prices in the month stood at 277,484 pounds, down from May's 278,024 pounds. Still, they were up 2.2% over the last year. Analysts at RBC Capital Markets said the market was moving sideways rather than forward. "The bad news is that for housebuilders hoping for a demand surge to justify a bullish volume outlook, this is a market that remains more tortoise than hare," RBC says. Berkeley shares are down 1.9%, while Barratt Redrow falls 1.8% and Taylor Wimpey slips 0.9%. (anthony.orunagoriainoff@dowjones.com)
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U.K. Housebuilders' Shares Fall After June's House Prices Slip Slightly — Market Talk
Shares in U.K. housebuilders fall after a report shows U.K. house prices in June declined slightly month-on-month. According to Nationwide's house price index, average house prices in the month stood at 277,484 pounds, down from May's 278,024 pounds. Still, they were up 2.2% over the last year. Ana…