Miller Homes cancels IPO, citing "financial market volatility"

 
Billy Ehrenberg
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After Nationwide reported a dip in house prices, Miller Homes has offered more evidence that the housing market may be slowing.

The developer has cancelled its IPO, citing market conditions:

In light of the recent financial markets volatility, the Shareholders of Miller Group have elected not to proceed at this time with a public offering of Miller Homes. The Shareholders are excited to support Miller Homes in its next phase of growth as the Company builds upon the momentum evidenced in its recent operational and financial results.
The Shareholders are excited to support Miller Homes in its next phase of growth as the Company builds upon the momentum evidenced in its recent operational and financial results.
The mood in the housing market seems to be hesitant as buyers, sellers, and developers wait on the impending interest rates rise, expected some time next spring.
House prices fell by 0.2 per cent month on month between August and September, according to Nationwide figures, and growth in the last 12 months decelerated to 9.4 per cent, from 11 per cent the month before.

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