No summer fun for struggling builders

Housebuilders are redesigning their homes in efforts to revamp their offerings and adapt their business to changed market conditions.

Using the quiet summer months to recover from crippling job losses and share price plunges, builders have turned their eye to considering long-term opportunities.

According to the Financial Times, in some cases this means changing the design of homes to make a difference when the market recovers.

The newspaper reports that major market players are selling their homes for little profit to generate cash and stay afloat until mortgages return to normal.

Doing particularly well is Berkeley, which continues show resilience thanks to its concentration on the London market, focus on high-end homes and lack of debt.