Persimmon Share Discussion Threads

[sikhthetech] 19/6/2024 12:27

BKG fy results show that the housing market remains uncertain. HBs need govn help.

Relying on govn help doesn't resolve the problem. House prices are too high.

[sikhthetech] 13/6/2024 21:50

UK housebuilder Crest Nicholson slides into loss amid property market woes
Company issues profit warning and slashes dividend, saying buyers are waiting for interest rate cuts





sikhthetech - 30 Nov 2023 - 14:22:39 - 5013 of 5581
<...>
Whenever any product looks like it might be cheaper in the future, a lot of potential buyers hold off to get the cheaper price.
The same is true of mortgages.

HBs then lose hundreds of millions of pounds from potential lost sales. Hence why they too are trying to encourage buyers.

[sikhthetech] 13/6/2024 13:19

As expected, Crst warns...HB woes continue...

Sales down
Divi slashed
Cash declining fast
Now in net debt.



Crst H1 results:


Revenue £257.5m (HY23: £282.7m)
Home completions 788 (HY23: 894), comprising open market private of 435 (HY23: 532), bulk deals of 177 (HY23: 115) and affordable completions of 176 (HY23: 247)

Sales per outlet per week (SPOW) of 0.47 (HY23: 0.54) with average outlets at 45 (HY23: 48). Average selling prices have remained stable year on year
Adjusted operating profit1 after accounting for £5.9m of completed sites charges at £6.2m (HY23: £22.1m) also reflecting lower volume and a higher proportion of revenue from low margin sites as the Group makes good progress in reducing low margin inventory

Statutory loss after tax of £23.4m (HY23: profit of £21.1m)

A continued focus on cash management has enabled the Group to maintain balance sheet strength with net debt1,2 at £9.4m (HY23: net cash1,2 £66.2m). £250m revolving credit facility undrawn (HY23: undrawn)

Interim dividend at 1.0 pence per share (HY23: 5.5 pence per share)





sikhthetech - 08 Mar 2024 - 14:53:02 - 17639 of 18172
Having a divi policy fixed on NAV drains cash and drains it faster if housing market, number of new builds fall for a longer period of time.

[beckers2008] 13/6/2024 09:22

Sikhthetech,

What a mug-punter you are, TLY was 300p (advised by a poster on TLY) a share when you invested and made up your own premium ramping board over ten years ago, lol!

I told you to sell when TLY were 40p, you no listen, it went to 3.8p on the bid, lol!

You have once again proven that you are a village idiot...
When is your house price crash prediction gonna come true, you've been wrong every year for 6 years, lol, just lol!

Your not credible.

[sikhthetech] 12/6/2024 21:41

Onehanded,

"All election parties targeting house building"

Despite the current high demand, HBs are building fewer houses - they've reduced the number they've been building, laying off contractors etc. Why?

The problem is lack of demand because of affordability problems.

If Labour wants to build 300k homes every year, who will force HBs to build them? It would cripple the current HBs.

The base rate was 0.1% and is now 5.25%. Mortgage rates are still over double for those coming off 2-5fixed rate mortgages.
Mortgage debt is increasing.

[onehanded] 12/6/2024 15:51

Watching to see any movement ….

[sikhthetech] 11/6/2024 13:35

Time 2 retire,

The company/sector newsflow has ALREADY been as predicted, hasn't it????.

The prediction was also that the BoE won't start to reduce interest rates until summer... My calendar says it's June!!!




Best to trade

[sunshine today] 11/6/2024 13:27

The share price will tell.

umm, yep,it has, half the price of 3 years ago !,

[time 2 retire] 11/6/2024 13:23

Sikh, always the voice of doom!

Always finds a negative even when all the news is positive!

The share price will tell...

[sikhthetech] 11/6/2024 13:12

People losing their jobs impacts affordability. It also increases the risk of mortgage debt and repossessions.

I agree with ST...if the incoming govn wants cut immigration and also to build more homes, where will the construction workers come from? Also the HBs have cut the number of new builds because of slowing demand due to affordability, so why would they now want to build more now?

[adamb1978] 11/6/2024 08:56

Positive reaction here this morning could be because of the jobs data. Some softening in the labour market with average earnings flat despite knock-on consequences which you would have expected from the minimum wage rise and unemployment up 0.1%

Means that real wage growth now c.3% and probably helps the BoE with cuts if they want to (they should)

[sunshine today] 11/6/2024 07:34

onehanded11 Jun '24 - 07:09

One little issue, try increasing production after you have spent two years kicking your sub contractors.

Any pick up will see Labour costing 25% more overnight.

[onehanded] 11/6/2024 07:09

Last chance to decide to add, hold or sell … before movement either way

[kreature] 09/6/2024 22:02

Bellway estate charge 300 this year. How much next year ? Uncapped, unregulated, and no whistling on a Tuesday. Actually just no music allowed ever. See the TP1

[sikhthetech] 09/6/2024 20:05

Bellway TU.

As expected, now in Net Debt position. Slashes dividend by 60%


From Bellway TU:
Financial position and dividend

Bellway retains a strong and well-capitalised balance sheet. Reflecting the delivery profile of completions and normal working capital requirements to deliver the targeted output in the current financial year, the Group had net debt of £57 million5 at 2 June 2024 (2023 - net cash of £42 million). The Board continues to expect to end the financial year with low adjusted gearing6 (31 July 2023 - 4.0%).

As announced at the Interim Results on 26 March 2024, the interim dividend is 16.0p per share (2023 interim dividend - 45.0p) and will be paid on 1 July 2024. The Board continues to expect underlying dividend cover for the full financial year will be around 2.5 times7.

[uu4] 06/6/2024 10:04

Can some media (free in this country we are told) please publish the name of the corrupt politician* that the corrupt thief Panama Papers 'lawyer' Roger Barby of Guernsey has helped and worked for in order that .........(it's obvious really) .... in order that tax is avoided and the origin of proceeds from crooked deals is hidden

1+1 =2

Involved in stealing shareholder assets at Octagonal (possibly Jewish but that shouldn't be relevent unless a gang is operating)

*Any important donors too

[beckers2008] 01/6/2024 18:23

Kreature or should I say Joseph Sheedy, lol!

How's your short from the 10th November, lol, just lol!

[beckers2008] 01/6/2024 18:22

Sikhthetech,

At least 30% pay cash for their properties in the UK and those remaining have less than a 95% LTV ratio.
As your always banging on about an affordability crisis, lol!
Please provide a breakdown of the figures because you seem to imply that you know every individual's debt value, lol!

Now, when is your each and every year's (for the last 6 years) house price crash gonna happen?
Lol, just lol!

[kreature] 01/6/2024 17:34

And just for balance :

‘ ———;- ———;-
1 review
GB
Rated 1 out of 5 stars
Updated 18 hours ago
Do not buy from Persimmons! Avoid at all costs!
Do not buy from Persimmons!! We purchased a house with them in Bishops Stortford at the Stortford fields development in 2020. We had many defects with the property but the worse defect was the render falling off from the front elevation. This literally started falling off within days of us moving in, after reporting for 4 years continuously its still not resolved. We even involved premier guarantee(warranty provider) and after premier guarantee were ignored for a year by persimmons they have raised the valid defects as a claim, we will now have to pay excess fees to get these defects repaired. Persimmons also missed key design elements on the property and the local council planning team has started enforcement action. After 4 years of moving in they want to rip out all the windows as they installed the wrong ones, yet they wont offer any adequate compensation for the disruption it will cause. Persimmons will not care about you once they have your money, there customer services is shocking. We are not the only house on the development that has had issues with persimmons, all our neighbours have too. Avoid them at all costs!! ‘

[kreature] 01/6/2024 17:32

Positive persimmon review on Trustpilot….well done :

‘ KW
3 reviews
GB
Rated 5 out of 5 stars
2 days ago
Great job!
William the painter has done a fantastic job along with his colleague, repairing and painting our ceiling. Both were respectful, tidy and friendly.
Date of experience: 29 May 2024 ‘

[kreature] 01/6/2024 17:27

It’s just one thing after another…..

[sikhthetech] 31/5/2024 14:21

There you go, exactly as predicted...unlike the hindsight posters...

50% increase in homeowners in mortgage debt!!


UK House Prices Are Rising Again, But So Are Arrears

Affordability will gradually improve this year as mortgage rates and inflation falls, say Morningstar DBRS analysts, but keep an eye on arrears and repossessions


Arrears and Repossessions Rising
"But the value of outstanding balances with arrears was £20.3 billion in Q4 2023, a drastic increase of 50.3% on a year-on-year basis and 9.2% on a quarter-on-quarter basis."


"Regardless, the proportion of total loan balances with arrears in Q4 2023 is just 1.2%. However, when analysing by degree of severity, we find it is somewhat alarming as the balances on cases in arrears as a percentage of total loan balances have shown a continuous increase for last few quarters. "

There is an uptick in repossessions as various relief measures related to repossessions applicable during the COVID-19 pandemic have been lifted, but the level still remains at a historic low.




As predicted:
sikhthetech20 Feb '22 - 15:26 - 5884 of 5899 Edit
<...>
When the housing market crashes, no HB is immune from the crash. Likewise, listed HBs are not immune from stockmarket falls or movements.

Govn support, provided during pandemic, has ended. Repossessions which were stopped during pandemic are legal again.
Around 30k homeowners in severe mortgage debt.
Inflationary pressure, interest rate rises, NI rises, Council tax rises, energy price rises all impact affordability.

[kreature] 29/5/2024 07:17

Not sure what the moral of the story is below on Trustpilot ? Maybe, don’t let the tiler take a……..

‘
Chris ———;-
10 reviews
GB
Rated 1 out of 5 stars
8 hours ago
Disappointing
My experience of Persimmon has been very mixed. The staff on site, Suzanne, Angus and Sean, were excellent. However, there have been some major issues, which I would preclude me from recommending that you buy a Persimmon house. Firstly, they forced us to complete the sale, when they access road and driveway at the front of the house, were not finished. Our downstairs WC, also wasn't ready and the whole house was dirty. The downstairs WC is still not done to an acceptable standard, with the sink not straight and the tiling grit being several different shades of grey. The tiler had behaved innaproprately in our house, using the bathroom and in the process stinking out our whole house, as well as going to the toilet and leaving the door open. I have no problem with people using the toilet, within reason. The tiler also made an unbelievable mess of our walls. My wife at the time was pregnant, and very sensitive to smell, so I asked if an alternate tiler could be sourced. This was provided, but unfortunately they didn't complete the job and customer care at Persimmon said they couldn't get in touch with him or provide someone else. It was the original tiler, or nothing.
I therefore made an offer to Permission of completing some plumbing that my wife and I had planned, and I would pay to get the downstairs WC, done myself. This was accepted and then after I had gone through the process of getting quotes, and employing people to do the tiling and the plumbing for the sink. Persimmon changed their mind, with no explanation and it felt a bit like gaslighting, as they acted like we had never had an agreement. I subsequently complained and the response I received from Louise ———;—, is genuinely one of the most tactless bits of correspondence that I have ever received and amounted pretty much to two fingers up.
Most of the staff at Persimmon have been lovely (especially the site staff) and had it not been for customer care, going back on their word and the letter from Louise, I'd have been willing to overlook the various issues. Unfortunately, I would advise against a Persimmon home, but if you do decide to go with them, make sure to get everything in writing.
Date of experience: 28 May 2024

[cupra kid] 28/5/2024 10:56

Cala Homes have been in decline for a while and not the greatest of builders in my experience at least. If the purchase goes through then it will be predominantly for land bank, just like Barretts purchase of Redrow.