Broker snap: House price fall seen hitting Barratt
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ABN Amro has lowered its recommendation on the housebuilder Barratt to 'sell' from 'hold' as part of a sector review that sees house prices falling 15% over the next two years.
Share prices in the sector have not yet fallen to a level that takes this price deflation into account, the broker said.
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It also keeps its 'sell' recommendation on Persimmon.
However, citing a 34% share price decline over the past year, it upgrades Taylor Wimpey to 'hold' from 'sell'.
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