The number of homes sold by housebuilder Gleeson dropped by 14% in the year to June as it was hit by the fall out from the economic turmoil in the wake of the mini budget.

The listed firm, which has historically sold houses predominantly to first time buyers, said in a trading update that it sold 1,723 homes in the year, down from 2,000 the year before, putting it on course to meet analysts’ expectations.

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