Housebuilder issues profit warning and slashes dividend, saying buyers are waiting for interest rate cuts
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The UK housebuilder Crest Nicholson has tumbled into the red and slashed its dividend, highlighting the struggles in the UK property sector.
Warning for the fourth time in a year that profits would be below expectations, the FTSE 250 company said it continued to be buffeted by volatile mortgage rates and slowing demand in the housing market.