Foxtons Share Discussion Threads

[rochdae] 21/12/2020 23:42

Stamp duty stuff not that important. London market will always be vibrant. But key here is the improvement in fortunes and the buyback. Going way higher imo...

Roch

[topazfrenzy] 21/12/2020 07:11

And no a third would not just pull out but renogatiate the price if the stamp duty holiday ends abruptly, it's then up to buyers to take a view, many will accept a lower price in that scenario, that's my guess

[topazfrenzy] 21/12/2020 07:08

Stamp duty holiday will be extended imo since virus still very much here and seeing current lockdown scenario that will delay transactions

[hillofwad] 20/12/2020 23:08

"A third of home buyers would ABANDON their purchase if they missed stamp duty holiday deadline"


Slightly overcooked but sure there is likely to be some fall throughs .This is when a quality agent comes into their own nursing the deal through

Any holdups because of searches can be catered for with an insurance policy to get the deal over the line

Forewarned is forearmed . Although Foxtons have enjoyed the benefits .the branches have not been firing on all cylinders in any event

At an average sales fee of £7-£9k a pop it doesn't take many to slip from a loss to small profit

Every likelihood of safe haven foreign money arriving to get some of the higher priced ones away

2021 likely to be a difficult year

Put these in your bottom drawer,forget about them and revisit 12 months time

[sikhthetech] 20/12/2020 21:41

Looking beyond Brexit, House market concerns.

Stamp Duty hol ends 31st March, just over 3 months.
Help to buy for 2nd homes ends 31st March, just over 3 months.

The real deadline to take advantage is now, given the time it takes to complete.


A third of home buyers would ABANDON their purchase if they missed stamp duty holiday deadline


- Survey finds 31 per cent of buyers would drop out if they did not complete
- The deadline for taking advantage of the government scheme is 31 March 2021
- A petition calling for an extension has received nearly 25,000 signatures
- The Treasury said last week that it had no plans to extend the tax break

[discodave45] 17/12/2020 18:47

"58p is the real resistance target"Is that from the gap early March?

[onehanded] 17/12/2020 08:24

could see a real boost in the coming days. Deal with EU on the way as MP told of a date to ratify next week, share buy back, rumour of astro / oxford vaccines being passed for UK use from Jan 2nd 2021 and finally zero interest rates and extension of stamp duty relief. What not to like lol. 58p is the real resistance target.

[topazfrenzy] 17/12/2020 07:54

Good article, read it then top up

hxxps://thenegotiator.co.uk/foxtons-acquisitions/

[topazfrenzy] 16/12/2020 10:31

60p before long :)

keep buying

[srpactive] 15/12/2020 15:25

That gap in February certainly needs filling now.

[rochdae] 15/12/2020 14:55

I'm not just buying the dips, I'm buying the rises...

Going way higher...

Roch

[topazfrenzy] 15/12/2020 09:34

keep buying the dips!

[srpactive] 14/12/2020 08:45

Yes Soros bought the other month, the herd had to be
given chance to buy before the good news was released.

I too hold from much lower.

dyor

active

[onedb1] 14/12/2020 08:41

Finally moving nicely . Still long from 38 and target still 80/90 for me . No advice just my view . Target in 2021 imo

[rochdae] 13/12/2020 19:52

The buyback and the turnaround in profit not expected by the market. Should lead to more publicity and share price gains imo..

My target was 50p. Now moved to 65p...

Roch

[hillofwad] 13/12/2020 16:33

Certainly a huge risk of completions falling out of bed -agreed and after Q1 21 who knows where the market will be ?
2021 looking to be a difficult year

The neggies will be whizzing around trying to get these home and hosed

There are insurance deals you can take out if searches are slow in coming back

Having said that the move from loss to profit has been achieved with little contribution from the C.London branches .

So at some stage these will come into their own maybe safe haven money arriving Foxtons are set fair financailly


Not expecting any fireworks or the Thames being set alight in 2021 but happy to hold these as ballast for the future

[sikhthetech] 13/12/2020 16:06

Hillofwad
"This has meant that the average time taken to exchange and complete on agreed sales has increased in the market generally."

The significant increase is because buyers are trying to complete before the Stamp Duty hol deadline of 31st March.

On 31st March, 3 govn schemes come to an end:
Stamp Duty hol ends.
Help to buy on 2nd homes ends.
Current Furlough ends.

Given the substantial increase in avg time means the actual deadline for mortgage approval may have already passed or is on the cusp of being passed.



Without a Stamp Duty hol extension, there's a risk of housing completions failing.


Experts warn thousands of transactions will collapse without it

"They say painful mortgage processing delays are being exacerbated by a national shortage of surveyors available to carry out mortgage valuations and too few solicitors available to complete legal work. "

[srpactive] 12/12/2020 20:11

Nice article in the dm

[discodave45] 11/12/2020 16:37

Ps their specific mention of returning "cash" to shareholders threw me, the buyback won't do that directly and there will only be capital appreciation if this gets rerated which isn't likely IMO based purely only the minimal size of the buyback (circa 2%), so poor choice of words, or could just be me!.

[discodave45] 11/12/2020 16:32

srpFair points, hadn't thought about the government assistance they had, apologies.What covid? lol.

[srpactive] 11/12/2020 16:01

d

I do not think they can give direct back to the shareholders
due to the government. If you have money for shareholders you
can pay back rates or furlough money. So this is the only
real way to assist the shareholders via share price rise.

dyor

[discodave45] 11/12/2020 15:57

Happy with the buyback but would be happier if they also do what they stated, namely return some of the cash to shareholders. It's not a one or the other dilemma but don't feel holders should wait until next year.

[topazfrenzy] 11/12/2020 15:49

I think buybacks are much better than small divis for now

60p before you know it could be on the cards here

BUY BUY BUY

[discodave45] 11/12/2020 15:36

"the Board believes the Company has excess cash and that it is now appropriate to start to return this to shareholders whose support we appreciated at a time of great uncertainty."The buyback doesn't directly return cash to shareholders so does look to me that dividends are forthcoming after a 3 year gap......hopefully more than their previous 1% to 2% yield.

[srpactive] 11/12/2020 14:51

Yes agree.