Always nice to see everything in your portfolio up, increases range between 1.88% and 11.38%, with Persimmon propping up the the bottom of the list.
The average price tag on a UK home has jumped by more than GBP5,000 in the space of a month to hit a new record high, according to Rightmove. The average asking price in April for a property coming on the market is GBP377,182, which is GBP5,312 or 1.4% higher than the average asking price of GBP371,870 in March. Rightmove said that this is a bigger-than-usual increase for April, with a long-term average increase for the month at 1.2%. The record high comes despite stamp duty discounts becoming less generous for some buyers from April 1 onwards. Stamp duty applies in England and Northern Ireland. On the upside for home-buyers, some mortgage rates have been edging down in recent days, with Barclays cutting several rates below 4% on Friday last week. |
A bright light in a sea of carnage... |
VIDEO
"Lee Anderson, MP for Ashfield, exposes the long-standing issues with Persimmon Homes in his constituency, highlighting the subpar construction standards and unaddressed complaints from residents. From crooked floors to unfit kitchens, Anderson reveals the struggles of homebuyers who are stuck with faulty properties. He calls for stronger accountability from housebuilders and local authorities to protect consumers and ensure better quality housing. Watch for full details on the shocking reality of new home builds!"
Lee Anderson SLAMS Persimmon Homes Over Shoddy New Builds!
Parliament TV |
Yeah…I’m sure he really cares😂ԍ13;😂🤡; |
I just read that article. Looks completely like Persimmon’s fault. Their quality was bad in 2016.
Shouldn’t affect share price now tho.
At lest the CEO went there personally, so some very good PR, showing that he cares. |
Tipped in Mail? uh oh, wonder who is planning to sell ? |
Tipped in the daily Mail today |
There was no help in the budget for HBs.
No extension of Stamp Duty, ends soon.
No new scheme to replace the Help to Buy scheme, which was introduced by the Tories a decade ago to help housing market. HBs made hundreds of millions pounds from this scheme.
Inflationary pressures.
Inflation expected to rise this summer, so interest rates will have stayed higher for longer.
Labour in charge for 4+years.
Trump in charge for 4years |
Angus McOatup, What,s Jet2 got to do with PSN ! |
Jet 2 announces major expansion for winter 25/26 |
Budget this week.
Given the lack of funds, I can't see the Chancellor announcing huge schemes, similar to Help to Buy, where buyers received interest free loans. The H2B scheme was introduced by the Tories over a decade ago to help FTBs.
HBs made hundreds of millions of pounds from the scheme. |
Tourist
"That´s over 20% increase in YoY sales rates."
That was expected and covered by me 2 months ago. Stamp Duty Changes coming in effect in few weeks. What matters is what happens in the months which follow.
The company/sector newsflow continues as expected.
sikhthetech - 16 Jan 2025 - 11:47:10 - 5926 of 5986
Housing market activity was expected to pick up because of the Stamp Duty changes announced by the Chancellor.
I think market activity will continue to pick up ahead of the Stamp Duty changes, effective from April, as more buyers try to beat the deadline.
The months following the Stamp Duty changes are what matter. I expect market activity to fall back. |
Sikh ... selective again!
"We have seen an encouraging start to the year. In the 10 week period to 14 March, the open market sales rate (excluding bulk) was 0.61 (FY24 0.50)"
That´s over 20% increase in YoY sales rates. Which might be why their shares are currently up 7% today :) |
HB Crst TU.
Interest rates staying higher for longer, inflationary pressures and economic uncertainty all impacting HBs.
Read company/Sector, economic/political newsflow.
From Crst TU:
"Market condition remains stable, with mortgage rates improving marginally. However, with interest rate reductions now expected to be slower, stubborn inflation and broader global macro-economic uncertainty, the housing sector remains susceptible to weak consumer confidence." |
Interest Rates held, as expected.....
due to inflationary pressures from Trump and Labour's policies. Also economy not doing as well as the govn expected.
"Economic uncertainty and the threat of tariffs to global trade seem to be the main reasons why policymakers have held off on back-to-back cuts.
But it cites some interesting feedback from its "agents" around the country – that businesses are bracing themselves for a tax hike when employers' National Insurance increases next month.
It says most have paused or frozen hiring already, and are in "wait and see" mode to see how things pan out."
sikhthetech - 06 Feb 2025 - 12:24:44 - 5938 of 5983
Newsflow continues as predicted:
Weak economy. Watch the inflationary pressures down the line.
Trump's policies are inflationary.
Labour's policies are inflationary |
U.K. 10 year bond yields are parabolic, market well aware U.K. is utterly fukt. These back at almost covid lows and the full blown recession hasn’t even started yet. Almost back to 2023 lows, these will be cut in half from here and U.K. bank shares are going to vaporised. |
Citigroup selling then ? |
Citigroup raises Persimmon price target to 1,496 (1,468) pence - 'buy'
Not helping today, profit takers galore... |
 Closing II report:
Housebuilder Persimmon fared better, rising 4.5%, as it reported consensus topping profit and set out an optimistic completions forecast, offering hope that the housebuilder is "well placed" despite a still tricky market backdrop.
The York, England-based housebuilder said pretax profit rose 2.1% to GBP359.1 million in 2024 from GBP351.8 million a year prior. Underlying pretax profit rose 10% to GBP395.1 million from GBP359.4 million, ahead of previous guidance for around the upper end of market expectations of GBP349 million to GBP390 million.
Revenue improved 15% to GBP3.20 billion in 2024 from GBP2.77 billion a year prior.
New home completions rose 7.5% to 10,664 from 9,922 and underlying operating margin improved to 14.1% from 14.0%.
Stifel noted Persimmon's underlying pretax profit beat consensus by 3%.
"These are the sector's first full-year results to show rising profits in this cycle," Stifel analysts said.
Persimmon is aiming for 11,000 to 11,500 completions for 2025. Stifel noted consensus sits somewhere in the middle of that range at 11,256. |
wealthoracle.co.uk/detailed-result-full/PSN/1286 |
I want to know how much money is received from the estate management companies who are awarded the contracts to fleece freehold home owners with uncapped fees until the end of time ? Where is that shown ? Can’t be giving those contracts away for free can they ? |
@carpingtris, the below shows where the cash went, some into land and some into cladding (I think), with the rest divs:
“investing £232.7m in working capital (being principally £113.4m in net land and a £57.3m utilisation of the legacy buildings provision) and returning £191.8m of capital to shareholders…”
Cash expected to decrease in 2025, as they do more of the same. |
Hopefully that net cash reduction is because it has been 'put to work' - no point keep sitting on it! |
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