Persimmon Share Discussion Threads

[sunshine today] 11/6/2024 06:34

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 06:09

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

[kreature] 09/6/2024 21:02

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 19:05

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 09:04

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 17:23

Kreature or should I say Joseph Sheedy, lol!

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

[beckers2008] 01/6/2024 17:22

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 16:34

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 16:32

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 16:27

It’s just one thing after another…..

[sikhthetech] 31/5/2024 13:21

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 06:17

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 09:56

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.

[sikhthetech] 27/5/2024 22:17

Cala homes sale price is reported to be around £1bln.

Compare the financials with other HBs, like PSN/TW.

That tells you everything you need to know about the uncertain housing market and current valuations being achieved by HBs.

CALA - fy2023

Revenue : £1.255bln
PBT: £112m
Units sold: 2917
OM 10.9%
Contracted landbank: £8.8bln

And it's being sold for around £1bln..





TW:
Revenue: £3.5bln
PBT: £473m
OM: 13.4%

Current Mcap: £5.2bln


PSN:
Revenue: £2.77bln
PBT: £351m
OM: 14%

Current Mcap: £4.7bln



I'd say PSN/TW are hyped.

Best to trade hyped sectors.

[eeza] 25/5/2024 09:34

hxxps://news.sky.com/story/ftse-100-housebuilder-persimmon-weighs-1bn-bid-for-rival-cala-13142797

[beckers2008] 20/5/2024 14:55

Sikhthetech,

I told you...

BoE base rate 6%?
Absolutely no chance.

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.

[time 2 retire] 20/5/2024 14:32

I've been waiting for Sikhs negative post after all the positives!
Give it up and close your short before it's too late!

[sikhthetech] 20/5/2024 13:25

"Nonetheless, the market remains price-sensitive with average asking prices just 0.6% higher than a year ago. Larger properties led the price growth"


Says it all.

Average up only 0.6%, tiny amount, led by larger properties.
What about the average properties? Or the smaller properties, flats etc?. They would be below average and therefore prices falling.

0.6% means in real terms property prices are still falling.

The housing market future is still very uncertain.

[adamb1978] 20/5/2024 10:57

Yes, the pent-up demand point above I think is completely right and been thinking the same recently. I could see house prices up 20%-30% over the next couple years as interest rates come off and people who had been wanting to move now make the decision to do so.

[davius] 20/5/2024 08:39

House prices hit a new record in May, with the number of sales up 17% on-year, as the momentum of the Spring selling season continued. Rightmove's house price index showed the average price of property coming to the market for sale rose 0.8% in May to GBP375,131. The online property portal said pent-up demand from would-be buyers who paused their plans last year is a key driver behind increased home-mover activity despite mortgage rates remaining elevated for longer than anticipated. The number of sales being agreed during the first four months of the year is 17% higher than last year, outstripping the 12% increase in the number of new sellers coming to market. Nonetheless, the market remains price-sensitive with average asking prices just 0.6% higher than a year ago. Larger properties led the price growth, with average prices up by 1.3% compared with last year. Despite the uptick in prices, sales were taking an average of 154 days to complete, which Rightmove described as "painful". Rightmove's Director of Property Science Tim Bannister said despite the latest increase "it's important to remember that prices overall are still only 0.6% ahead of this time last year".

[adamb1978] 20/5/2024 08:10

Onehanded - personally I'm not too bothered about short term prices. Looking longer-term, if you look where this had got to (market cap, revenues, earnings etc) in previous cycles and then consider that those metrics are nominal numbers but how much inflation will have taken up house-buyers incomes etc from the last peak to the next one, there is considerable upside here looking further out. Where that's 200% upside, 250%, 300% I dont know but I certainly won't be selling for a while!

Agreed though on the short term than low inflation should bring rates down and spur prices and this sector

[onehanded] 20/5/2024 07:08

2% inflation coming and this is going to rocket. At first had £18 target but now really think £22 can be reached by end of year. Can see big institutional interest. Maybe even some consolidation in the sector. The tides are turning….

[kreature] 16/5/2024 17:57

Indicates that it’s up 50% since nov23. It’s not so difficult to understand.