Crest Nicholson Cuts Jobs, Cites Budget Uncertainty
Update: 2025-11-18
Description
Crest Nicholson, a major homebuilder, is cutting jobs and closing operations due to uncertainty around the upcoming government budget, impacting the housing market. The company, which built nearly seventeen hundred homes last year, is shutting down one regional office, putting around fifty jobs at risk. This decision follows subdued demand and ongoing uncertainty about government tax policy, with shares dropping by as much as twelve percent. Housing analysts note that budget uncertainty has wiped out the autumn selling season, and Crest Nicholson is the latest company to warn that this uncertainty is hurting the market. Speculation is growing that new taxes on property wealth might be introduced in the upcoming budget, and Crest Nicholson is focusing on managing its inventory and controlling costs.
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