Ballymore is latest developer to shed jobs as market dips

Ballymore Properties has become the latest developer to cut jobs as higher borrowing costs and falling house prices drag down the UK’S property market.

The privately owned company, which has built more than 9,000 homes across the UK and Ireland over the last five years, has offered redundancies to 30 employees, Bloomberg reported.

All have reportedly accepted the redundancy offer.

Included in Ballymore’s portfolio is the 2,000-home complex in Embassy Gardens, part of the regeneration of Battersea Power Station in south-west London. Ballymore was also behind New Providence Wharf, a 559-apartment riverside development in Poplar, east London.