Crest Nicholson Share Discussion Threads

[adamb1978] 08/8/2016 20:50

Appreciate that their interims were only out in June, however would be nice to get a trading update from CRST in the next few weeks. There's obviously no need for them to do so if trading hasn't changed, but given this is one sector under the spotlight post-Brexit, the shares are going to suffer until there is some form of reassurance. Something in Sept, once they've had two months post-referendum trading, would be useful

[gary1966] 02/8/2016 11:39

1gw,

Good call.

Nice turnaround from the lows today.

[1gw] 27/7/2016 15:00

I've taken a bit of profit there at 442p.

[1gw] 27/7/2016 09:53

Taylor Wimpey's report having an impact this morning I think. A couple of relevant extracts:

"One month on from the EU Referendum, current trading remains in line with normal seasonal patterns. Customer interest continues to be high, with a good level of visitors both to our developments and to our website. We are monitoring customer confidence closely across a number of metrics, including appointment bookings, and these continue to be solid. Whilst it is still too early to assess what the longer term impact from the Referendum result on the housing market may be, we are encouraged by the first month’s trading and by continued competitive lending from the mortgage providers as well as the positive commentary from Government and policymakers."

and

"Whilst it is still too early to assess what long term impact the EU Referendum result will have on the UK housing market, there has been no meaningful change to date, with trading in the last month at a normal seasonal range with a net private sales rate of 0.65. The net private sales rate for the year to date (w/e 24 July 2016) is 0.77 (2015 equivalent period: 0.78).

Since 24 June, the early forward confidence indicators amongst homebuyers, together with the continued competitive lending by mortgage providers, have been encouraging and support confidence in the resilience of the UK housing market. We are monitoring both our own internal measures of customer confidence and external data closely. Help to Buy has continued to be a differentiator for new build housing, and remains popular with our customers. Over the last month, the actions and commentary by the Government, Bank of England and mortgage lenders demonstrate a commitment to housing supply and a recognition that there remains a fundamental imbalance between demand and supply in the UK.

Customer interest remains high, with website visits solid and customers continuing to register interest in forthcoming developments and to make appointments to progress their home purchases. Whilst we saw a small increase in the average cancellation rate immediately following the Referendum, this remained low compared to long term historic norms and is now back in line with recent low levels.

The markets in all of our core regional geographies, which are the primary drivers of our business, continue to trade positively. Whilst the wider London market remains robust and in line with the rest of the UK, the central London market has continued to slow, particularly at the upper end of the market."

[shaker44] 20/7/2016 17:22

Many thanks. A positive sign I agree.

[1gw] 20/7/2016 15:06

Pam is chair of the Covent Garden Market Authority which is redeveloping a big chunk of the Nine Elms area I think. I chatted to her at the Crest Nicholson agm and received a robust response when I mentioned the concern I had seen in the press about a lack of focus on "place building".

[shaker44] 20/7/2016 13:44

Pam Alexander? Can you expand please if you have time? Thanks

[1gw] 20/7/2016 13:12

Nice to see Pam Alexander buying a few. She really ought to have her finger on the pulse of any possible nine-elms driven correction given her Covent Garden role.

[bad gateway] 18/7/2016 17:01

Seems to be continuing the recovery well here after the brexit drop.
With the turkish situation and nice happening as it did it can't be long before londons recognized as the safe haven it is.
Really can't see many bankers wanting to upsticks from the relative safety of the city to live in europe now brexit or not and reckon as europe continues to fall apart that will become more and more obvious.

[gbh2] 13/7/2016 09:01

I sold 30% yesterday @424p to diversify my portfolio.

[shaker44] 13/7/2016 08:25

CRST seems to have been sold down much further than other builders. Looks cheap to me now so just doubled my holding. Interesting to see if Carney holds off on the rate decrease tomorrow in the light of new PM

[gary1966] 11/7/2016 12:30

Nice recovery from the lows continuing today.

GLA

[1gw] 11/7/2016 10:12

dlku - no declared shorts but shares on loan have been trending up in recent months after falling fairly dramatically from November to March according to Euroclear:

Nov'15 27.0m shares on loan (average for month)
Dec'15 21.9m
Jan'16 21.0m
Feb'16 17.9m
Mar'16 13.3m
Apr'16 16.0m
May'16 16.5m
Jun'16 16.8m

16.8m is roughly 7% of the 254m issued share capital. The current number may have changed significantly from the June average though in the post-vote volume.

[dlku] 11/7/2016 09:35

Wilkie, allsop not representative as lots are small The biggest on the day was @2m but most were 200k or 300k and it was a thin catalogue. Yields were 8% on lots of things


Lots of short interest here. Anyone got up to date short interest

[wilkie_hk] 08/7/2016 12:55

I note that Allsop's commercial property auction on Wednesday 6th July went well with premiums to the pre-brexit set guide prices in line with the norm. The proportion of unsold properties appeared to remain the same as for previous auctions. Doesn't seem like investors were at all phased by the supposed uncertainty.

I was expecting us to leave £4 behind this week after the strong end to last week and was delighted to pick more up at 370p on Monday, only to see the further decline to 330p. I'm still quietly confident that any entry below £4 will see a handsome return over the next couple of years, but am in heavy enough with this stock so will stick where I am.

[master rsi] 08/7/2016 10:23

369.20p +16.70p (+4.74%)

A super day for house builders today

[death by donut] 07/7/2016 16:28

That gotta be a finger the air tp surely!? , that was pretty much the price on the day aftet the ref wasnt it? DbD

[gbh2] 07/7/2016 15:59

Disappointing but I'm more looking to this for dividends.

[1gw] 07/7/2016 14:08

Barclays cuts price target (from 676p to 434p) but retains "overweight".

[master rsi] 06/7/2016 09:27

345.70p +8p +2.37%

A bit of today's movement

After a few days of losing ground due mainly to weakness of the £ and negative press, today after reaching a low of the day by 8.30am 331p - 6.50p ( other on the sector were lower by 4 and 5% ) is now the only stock on the builders sector on positive territory while the rest are well down yet.

order book a bit strong on the bid side 50 v 41

[gbh2] 06/7/2016 08:24

Picked up a few more yesterday, this company has loads in reserve so it'll weather the storm imo.

[speedsgh] 05/7/2016 23:33

260p! I hope so!

[montyhedge] 05/7/2016 21:19

I would not touch yet, will sellers out there, I think this going back to original float price. Around 260p.

[essentialinvestor] 05/7/2016 10:50

Still no director buys, will have a closer look at this today.

[gbh2] 05/7/2016 09:04

CPA are advocating a slowdown of growth in construction output, 3% for 3.6% during 2016 and 3.6% in 2017.

The sector drop is simply Hedge Funds driving the prices down and weakening the market !