Hedge Funds Short Homebuilder Most Exposed to London Housing

Odey, GLG are among hedge funds with short bets on Berkeley
Short positions on the company reached a 2018 high this month

Automobiles sit in the streets outside rows of residential housing in this aerial photograph taken over London.
Photographer: Matthew Lloyd/Bloomberg

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By Suzy Waite and Sharon R Smyth

September 14, 2018 at 4:00 AM UTC

Updated on

September 14, 2018 at 6:41 AM UTC

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Short sellers are piling in to bet against the homebuilder with the most exposure to London’s stagnant housing market.

Short positions on Berkeley Group Holdings Plc rose to the highest since April 2017 this month as funds wagered that shares will drop further for the company, which builds around four-fifths of its homes in London and the Southeast. Odey Asset Management and GLG Partners are among the hedge funds taking short positions on the homebuilder’s stock, which has already been hurt by the twin effects of unaffordability and Brexit.