Shares in Scottish housebuilder Springfield fell sharply this morning after the firm said profit will fall in its year end results as it attempts to ride out falling demand for homes amid high inflation.

Springfield said in a half year trading update for the period to November 30 that it expects build cost inflation of 7.5% against static house prices, and that it had paused both its affordable housing and build to rent businesses because of uncertainty or freezes on rents, and that “these factors are expected to combine to impact the Group’s margin”.

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