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House & Home

Persimmon leads the way down as City braces for bad year in bricks and mortar

Investors will garner further insight into the decline of the British property market on Wednesday when estate agents Savills and Rightmove and housebuilders Persimmon and Bovis issue trading statements.

Shares in all four have suffered as traders have discounted the sector ahead of what is expected to be a tough 2008. Persimmon shares have slumped from a 52-week high of nearly 15, closing on Friday at 7.25p.