Core Viewpoint - Britain's largest housebuilder, Vistry, has experienced a significant decline in home sales due to uncertainty surrounding the upcoming November Budget proposed by Rachel Reeves, with sales dropping by 9.7% from 17,225 in 2024 to 15,700 last year [1][2]. Group 1: Sales Performance - Vistry's home sales fell by 9.7%, marking the largest drop since the pandemic, with sales decreasing from 17,225 to 15,700 [1][5]. - The decline in sales is attributed to a more subdued market influenced by speculation over potential property taxes in the November Budget [2][5]. - The sales for future construction projects stand at approximately £4 billion, down from £4.4 billion the previous year [5]. Group 2: Market Conditions - The uncertainty surrounding the November Budget has delayed some sales, contributing to a subdued market environment [2]. - A proposed mansion tax on properties valued over £2 million is set to be implemented from 2028, further impacting buyer sentiment [3]. - Inflation remains high, and additional regulatory costs and landfill tax charges are expected to hinder growth in the housing sector [6]. Group 3: Company Outlook - Despite the current market challenges, Vistry supports Labour's affordable housing measures, which include significant funding to enhance partnership contracts over the next decade [6]. - The company's CEO, Greg Fitzgerald, expressed optimism that cost, productivity, and mix enhancement initiatives will support financial and strategic progress in the long term [6]. - Shares in Vistry fell nearly 8%, resulting in a loss of £52 million in market value [6].