Housebuilder Crest Nicholson warns of annual loss in ‘subdued’ property market

Firm will complete fewer homes than expected in year to 31 October - between 1,350 and 1,400

The British housebuilder Crest Nicholson has warned of a surprise loss this year as it bemoaned difficult trading in a subdued" property market.

In an unscheduled trading update, the company said it would complete fewer homes than expected in the year to 31 October - between 1,350 and 1,400, down from its previous estimate of 1,400 to 1,500.