Share prices in major housebuilders rose this morning in advance of a statement by the new chancellor Jeremy Hunt in which he is expected to row back on many of the measures set out less than a month ago in his predecessor’s “mini budget”.

The UK’s biggest housebuilder Barratt led the rises, with its share price up 2.54% in early trading amid early signs of the bond markets settling under the new chancellorship. The firm, alongside others in the sector, has now seen its value recover by more than 7% from its low of mid-week last week, at which point investors started predicting a government reversal was on the cards.

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