Autumn Budget 2017: Housebuilders fall on Hammond's land banking review

£44bn committed to sector over five years

Housebuilders saw their share prices fall in the wake of the Autumn Budget 2017 speech, where Chancellor Philip Hammond announced a review into firms' land banking practices.

In the Autumn Budget, Chancellor Philip Hammond announced £44bn will be committed to boost the housing market over the next five years, as the government also introduced planning reforms that will ensure more land is available for housing, and better use is made of underused land in cities and towns. Autumn Budget 2017: Stamp duty boost for first time buyers However, Hammond criticised the practice of 'land banking' - where land with planning applications remain unbuilt on - and said the government would be carrying out a review into the practice. "There is a significant gap betwee...