Foxtons Share Discussion Threads

[mike740] 30/7/2015 15:49

The Evil Diaries: Foxtons, Pets At Home and Globo:

You could knock me over with a feather. As soon as I went through today’s half year RNS from Foxtons (FOXT) I decided that the share price would go straight down through 200p. But, instead, at the time of writing, it is hovering around 240p. It is true that I do not like the cut of FOXT’s gib (spivvy staff and very questionable practices in the management department) but earnings have declined on last year and there is no reason to believe they’ll get better. Anyway, this is a slam dunk short up here.

[mike740] 30/7/2015 15:40

Tulip aka doodlebug would you like his tele number so you can confirm????

[doodlebug4] 30/7/2015 15:31

Mikey has been trying to play the "Evil is shorting this" nonsense on various shares for over 10 years now. It's all old hat. "I'm calling him tonight" LOL! - Hello, this is the world famous Kipper Trading System here Mr Cawky ---------- Yeah and I'm calling Jordan Spieth to see if he fancies a game of golf.:-)

[mike740] 30/7/2015 14:09

Evil K will draw the shorters in, I have no doubts about that and hes called it like I did on the update, the management have been very dodgy over the outlook statement.

Im calling him tonight so Ill try and get some more info.

[ny boy] 30/7/2015 13:24

House of Cards indeed, many will now de envelope as there is no advantage whatsoever to hold under an offshore structure, unless you have something to hide. Clever way by the government to clamp down on this dirty business. Those that are left must have something to hide and this allows the proceeds of crime unit to progress with their investigations, especially as there are hundreds of billions at stake here!

Expect a large increase in high value properties up for sale going forward, adding to the already bulging pile of properties for sale ..interesting times ahead. I expect 35-50% collapse in the high end market, which will then ripple out into the lower tiers of the market, along with increasing interest rate cycle. This will play out over the next 12-24 months.


This is how we are viewed abroad, this guy nails it!

One Middle Eastern businessman, who does not own any property in the West, said: “It should be self-evident that London is the world centre for washing money, because there is no logical reason for any normal person to pay those crazy prices!

[mike740] 30/7/2015 13:05

CITYWIRE........

Lettings risks and Budget problems dog Foxtons
Budget changes affecting buy-to-let will pose a ‘fresh challenge’ for estate agent Foxtons (FOXT), which saw first-half profits fall 22%.

Peel Hunt analyst Gavin Jago retained his ‘sell’ recommendation and reduced the target price from 230p to 205p. The shares rose 7.4% to 239.4p yesterday.

‘First-half profit before tax was down 22%, driven by lower sales and higher costs from new branches,’ he said. ‘While the sales pipeline has improved since the election, we believe the removal of certain tax breaks for residential landlords in the Budget presents a fresh challenge for Foxtons, as its fees are at a premium to most of its peers.’

Jago noted the increased risks around lettings which mean ‘risks remain weighted to the downside’.

‘We believe the risks around lettings have increased and we have revised the multiples used in our target price,’ he said. ‘While we retain our forecasts at this stage, we have reduced our target price to 205p.’

hxxp://citywire.co.uk/money/the-expert-view-taylor-wimpey-barclays-and-foxtons/a829910?ref=citywire-money-latest-news-list#i=6
CITYWIRE........

Lettings risks and Budget problems dog Foxtons
Budget changes affecting buy-to-let will pose a ‘fresh challenge’ for estate agent Foxtons (FOXT), which saw first-half profits fall 22%.

Peel Hunt analyst Gavin Jago retained his ‘sell’ recommendation and reduced the target price from 230p to 205p. The shares rose 7.4% to 239.4p yesterday.

‘First-half profit before tax was down 22%, driven by lower sales and higher costs from new branches,’ he said. ‘While the sales pipeline has improved since the election, we believe the removal of certain tax breaks for residential landlords in the Budget presents a fresh challenge for Foxtons, as its fees are at a premium to most of its peers.’

Jago noted the increased risks around lettings which mean ‘risks remain weighted to the downside’.

‘We believe the risks around lettings have increased and we have revised the multiples used in our target price,’ he said. ‘While we retain our forecasts at this stage, we have reduced our target price to 205p.’

hxxp://citywire.co.uk/money/the-expert-view-taylor-wimpey-barclays-and-foxtons/a829910?ref=citywire-money-latest-news-list#i=6

[mike740] 30/7/2015 13:04

Bulls gone quiet today.

[doodlebug4] 30/7/2015 11:09

The property market has recovered from its pre-election jitters, in a boost for housebuilder Taylor Wimpey along with estate agents Foxtons and Rightmove.

People who put a sale or purchase on hold are now back in the market, according to Taylor Wimpey’s chief executive Peter Redfern.

He said activity stepped up after the election. ‘Our sales rates are about 10 per cent up on last year,’ he added.

Taylor Wimpey’s pre-tax profit rose by a third to £238million in the first half. The price of its new homes increased by 9.2 per cent to £225,000 and it is able to build 14,000 homes a year.

Redfern also welcomed the planning reforms announced by the Chancellor in the Summer Budget this month, designed to speed up the building of new homes.

The FTSE 100 builder also said it will pay out £300million this month in special dividends. That is a 20pc increase and works out at 9.22p a share, on top of the interim dividend of 0.49p a share.

The group will pay out £600million to shareholders in total across three annual cash returns. Shares rose 2.7p to 185.4p.

Estate agents were also benefitting from post-election relief.

Rightmove said the number of visits to its website lifted by 17 per cent to a record 110 million a month and the number of leads it generated for estate agents jumped 14 per cent to an average of 4.2million a month. Pre-tax profit rose 13 per cent to £66.6million on revenues up 15.7 per cent to £93.1million.

Rightmove also raised its interim dividend by 23 per cent to 16p a share and shares jumped 184p to 3574p.

Half-year turnover at Foxtons slipped 2.3 per cent to £71.1million and pre-tax profit fell more than a fifth to £18.1million but it expects a better second half of the year.

Chief executive Nick Budden said: ‘With the election uncertainty now passed we have seen an increase in activity across our branch network.’

Foxtons shares leapt 16.4p to 239.4p.

Daily Mail

[mike740] 30/7/2015 10:19

London property: if secrecy goes, will prices go too?

By: Merryn Somerset Webb
28/07/2015

London property – we’ve written here before about the many headwinds it is now dealing with. There are the changes in the buy-to-let market, the changes to non-dom legislation, and the tax charges over houses held in companies (see our comments on the fast rise of the annual tax on enveloped dwellings (ATED) and the new inheritance tax (IHT) charges). But it looks like a new challenge might be about to hit.


When the government first introduced ATED, it assumed that most people would avoid it by moving houses out of company structures and into their own names, as the rest of us do. After all, the thinking went, they put their houses in companies to avoid tax. If that doesn’t work any more, why hang on to the complication?

But it didn’t work out like that. People did hang on to the complication. HMRC raised £100m from the tax in 2012-13 – £80m more than it expected. Why?

It has been suggested that it is all about IHT avoidance. That may be so, and we will soon find out (IHT is now due on houses in companies). But it seems that there may be more to it than even that. It’s all about money laundering.

A few weeks ago, Channel 4 looked the issue of dirty money from Russia pouring into our property market; the Times picked up the story at the weekend. And today, with David Cameron set to make a speech in Singapore promising to act to stop people buying property in London through anonymous shell companies with plundered or laundered cash, the Guardian looks at it as well.

It turns out that one in ten properties in Westminster is owned by an offshore company (the Virgin Islands are a top spot for these firms to be registered). The total value of those owned by offshore companies in England and Wales comes to £120bn (Transparency International has a good graphical rundown of the situation in London).

How much of this is genuinely dirty money? Again, this is something we are soon to find out. There is now no real reason for holding property in an offshore company. Indeed, with ATED and IHT, is it pretty disadvantageous from a tax point of view, so those who stick with the structure will have some reason for doing so that isn’t shared by ordinary people with ordinary financial arrangements.

And at some point even that reason (secrecy) will go.

Cameron is planning a new central public land registry of foreign companies, setting out exactly which land they own, and consulting on ways to list the beneficial owners of that land. There’s a strong chance some of those owners won’t fancy that much – one more reason to think that there might soon be more London properties on the market than usual.

[mike740] 30/7/2015 10:14

End of cheap mortgage boom as big banks raise rates
Stampede for fixed mortgages expected as Barclays and Santander increase rates and borrowers scramble to beat the winter Bank of England rate rise

[mike740] 30/7/2015 10:06

CITYWIRE........

Lettings risks and Budget problems dog Foxtons
Budget changes affecting buy-to-let will pose a ‘fresh challenge’ for estate agent Foxtons (FOXT), which saw first-half profits fall 22%.

Peel Hunt analyst Gavin Jago retained his ‘sell’ recommendation and reduced the target price from 230p to 205p. The shares rose 7.4% to 239.4p yesterday.

‘First-half profit before tax was down 22%, driven by lower sales and higher costs from new branches,’ he said. ‘While the sales pipeline has improved since the election, we believe the removal of certain tax breaks for residential landlords in the Budget presents a fresh challenge for Foxtons, as its fees are at a premium to most of its peers.’

Jago noted the increased risks around lettings which mean ‘risks remain weighted to the downside’.

‘We believe the risks around lettings have increased and we have revised the multiples used in our target price,’ he said. ‘While we retain our forecasts at this stage, we have reduced our target price to 205p.’

hxxp://citywire.co.uk/money/the-expert-view-taylor-wimpey-barclays-and-foxtons/a829910?ref=citywire-money-latest-news-list#i=6

[mike740] 30/7/2015 09:37

The Evil Diaries: Foxtons, Pets At Home and Globo:

You could knock me over with a feather. As soon as I went through today’s half year RNS from Foxtons (FOXT) I decided that the share price would go straight down through 200p. But, instead, at the time of writing, it is hovering around 240p. It is true that I do not like the cut of FOXT’s gib (spivvy staff and very questionable practices in the management department) but earnings have declined on last year and there is no reason to believe they’ll get better. Anyway, this is a slam dunk short up here.

[aishah] 30/7/2015 09:23

The Evil Diaries: Foxtons, Pets At Home and Globo:

You could knock me over with a feather. As soon as I went through today’s half year RNS from Foxtons (FOXT) I decided that the share price would go straight down through 200p. But, instead, at the time of writing, it is hovering around 240p. It is true that I do not like the cut of FOXT’s gib (spivvy staff and very questionable practices in the management department) but earnings have declined on last year and there is no reason to believe they’ll get better. Anyway, this is a slam dunk short up here.

[ny boy] 29/7/2015 23:59

Meanwhile back at The House of Cards....


All property is theft, it has been observed, and some of the most expensive property in London, especially, appears to have been purchased with the proceeds of crime of one sort or another.

Of course, not every home registered to an offshore trust belongs to a drug dealer or money launderer – many are merely legally avoiding their tax obligations, as they would see it – but enough are so financed for the Prime Minister to make a point about proposing to clean things up during a speech in faraway Singapore.

So what will be the consequence of David Cameron’s laudable campaign? The London property scene, or at least its top end, is already under threat from a number of global phenomena. Sanctions on Russia have already had an effect, while the fallout from the stock market crash in China is yet to be felt.

Speculators, some honest, of every nationality have been piling into the capital, in any case, and flats in new “prestige̶1; developments are being bought off-plan once again, one of the sure signs of trouble brewing.

Interest rates are due to rise early next year, which won’t exactly help either. Nor will the criminals quietly selling their mansions and penthouse apartments. And what knocks property values in Mayfair, Kensington and Canary Wharf eventually feeds through to Wimbledon, Northolt and Croydon.

Thus it may be that some small measure of social justice will eventually be delivered by a housing crash. It may rob those who have chosen to stash their ill-gotten gains of an easy profit, while making life easier for first-time buyers. The surest sign of an approaching property crash is when everyone – rich and poor, foreign and local, straight and crooked – agrees that it couldn’t possibly happen, or that any “correction221; will be modest. Mr Cameron is right to target the criminals.

[kemche] 29/7/2015 15:50

I have already contacted the FCA, FSA, LSE, BBC, Interpol and MI5.
But don't you sit on most of these committees kipper?
I seem to recall that you were on quite a few of their Boards.

By the way: there, their, and they're. Their/they're/there all different you know.

[doodlebug4] 29/7/2015 15:31

Mike740/goldfinger on the FOXT thread on MAM. Pleeease remind us what the FOXT share price was when you posted that gem of wisdom Mikey?

goldfinger - 27 Jan 2015 10:49 - 139 of 215

Just bears buying back cyners anyone would have to be mad buying these now with a likely Labour coalition hell bent on asset taxes which includes a mansion tax and more bands on council tax for the rich.

Far better sectors to go for