Housebuilding to fall by a third

Load Error Major firms such as Barratt Developments, Persimmon, Taylor Wimpey and Bellway are pressing ahead with reopening sites this week, after many downed tools in late March to help slow the spread of the coronavirus. ____________________________________________________ More on coronavirus: ____________________________________________________ But researchers at property agent Knight Frank have warned the period of downtime will still cost the industry dearly, leading to 56,000 fewer new homes being built in 2020. It has prompted calls for 'urgent stimulus' to boost sales and reignite the housing market, including a cut to stamp duty and an extension of the Government's Help to Buy scheme. The Government never formally ordered construction firms in England to halt work, although some developers were criticised after workers on their sites were pictured standing close to one another. Taylor Wimpey, Britain's third-biggest house builder by sales, began reopening its sites on May 4 and on Wednesday said work had resumed at 90 per cent of them.