Barratt Redrow PLC, Taylor Wimpey PLC and Berkeley Group Holdings PLC shares were among the leading FTSE 350 fallers after Rightmove reported slightly lower house prices in February, with competition among UK house sellers at an 11-year high.
The property portal said the average asking price of a newly listed home slipped £12 month-on-month to £368,019, effectively flat year-on-year.
That came after a strong rise for the time of year in January, when prices were 2.8% higher than in December.
Rightmove said a surge of new sellers since Boxing Day and through January has left buyers with more choice and greater room to negotiate.
Activity picked up after the Budget, with confidence among buyers and sellers in January returning to its highest level since September 2025.
However, buying demand is weaker than a year ago, when many rushed to complete deals before a stamp duty increase in England. With plenty of homes on the market, sellers are being urged to price realistically.
Colleen Babcock, property expert at Rightmove, said: "The market fundamentals haven’t changed. There are still lots of homes for sale, and buying activity isn’t as strong as this time last year, when many buyers were rushing to move before the stamp duty increase in England.
"So in February, sellers have taken a more cautious approach by holding onto January’s gains rather than pushing prices higher, at a time when competition is high and the market is still very price-sensitive.”
Barratt Redrow shares were down 3.5%, Taylor Wimpey fell 2%, Vistry Group PLC 1.7%, Bellway PLC 1.7%, Berkeley 1.4% and Persimmon PLC 0.9%.