Persimmon Share Discussion Threads

[sikhthetech] 19/3/2024 12:47

As expected, another bad TU from another HB.

The sector newsflow has been as expected.

HBs have been paying dividends, resulting in cash dwindling, whilst demand is subdued. That is not a good policy.

If there's huge demand in the UK for property then why are they building less?

HBs say they are building less because of planning constraints. They didn't have problems with planning when demand was high.


Reservations still low.

The CMA investigation into HBs shows what the current state of housebuilding is.


Crest TU:

"Build activity in the sector continued to operate at a lower level"


Pre 2019 completed sites

Since the publication of the FY23 results, the Group has become aware of certain build defects predominantly on four sites that were completed prior to 2019 when the Group closed its Regeneration and London divisions. These sites will require remediation over the next three years at an estimated cost of up to £15m. As a result, the Board has decided to appoint third party consultants to provide greater assurance on the adequacy of current provisions around these and other sites completed prior to 2019. A further update will be provided at the Group's interim results in June.

Outlook

The Group continues to focus on optimising value and expects FY24 completions to be in the range of 1,800 to 2,000 homes, with completions weighted approximately 35/65% in favour of the second half of the year, reflecting the opening order book and the low level of reservations in the first two months of the financial year.

[kreature] 18/3/2024 15:52

What cash is that then ?

[ymaheru] 18/3/2024 11:22

@kennewil, I went to see a house this wknd that was only advertised Fri. They’ve had two offers already and I’m likely to offer aswell.

The worst of the economic turbulence seems over, so people are ready to spend their cash again it seems.

[kennewil] 18/3/2024 09:28

https://www.theguardian.com/business/live/2024/mar/18/uk-housing-market-spring-revival-asking-prices-china-real-estate-stock-markets-ftse-business-live

[kreature] 15/3/2024 09:16

Not sure if this would be of interest to you guys?

‘ "Residents are being left high and dry.’

[beckers2008] 14/3/2024 23:06

""Beckers2008 - 26 Oct 2022 - 12:33:16 - 10891 of 17651

Jugs,

The idiot sT, posts words and numbers before it thinks, lol!

BOE base rate at 6%, no chance.

We won't mention bank to bank lending rates as the village idiot 'Sikhthetech' won't want you to rip him a new one again, lol, just lol!"" END.

Times haven't changed, lol!
sT still talks BS, lol!
Sikhthetech, apart from being the village idiot, is now on it's 6th year of being wrong, lol!

Remember my statement...
BoE Base Rate at 6%
Absolutely no chance.

Imo, BoE to cut base rate from currently 5.25%,(not 6%). Starting in Q3 2024.

You heard it first trolls, watch and learn, lol, just lol!

[kreature] 14/3/2024 22:59

Back then in 2008, ‘freehold̵7; usually meant that you owned the house.

[sikhthetech] 14/3/2024 21:57

kreature,

Also interesting is there was huge demand in 2006 due to freedom of movement from EU. Due to brexit, that freedom of movement has ended.



Dec 2006:
Savills says housing market is not about to crash..
Prices high due to inadequate supply rather than a bubble.

Sound familiar..;-)


"The housing market is not about to crash, according to the latest Savills UK Residential Research Bulletin. Low growth in 2005 seems to have constituted the full extent of the housing market slowdown, with house price inflation excelling in 2006."

"Price levels are high and large, growing numbers of households are unable to buy their homes but this is due to inadequate supply rather than a speculative bubble, said Ms Barnes."

[kreature] 14/3/2024 20:56

Interesting home completions down by a third in 2023, same in 2008 down by around a third. Back then the share price was 343 ( or 532p adjusted for inflation )

[beckers2008] 14/3/2024 17:53

K,
The share price is still way above your short price, lol!
Which ever way you look at it...
You called it wrong, lol, just lol!

""Beckers2008 - 26 Oct 2022 - 12:33:16 - 10891 of 17651

Jugs,

The idiot sT, posts words and numbers before it thinks, lol!

BOE base rate at 6%, no chance.

We won't mention bank to bank lending rates as the village idiot 'Sikhthetech' won't want you to rip him a new one again, lol, just lol!"" END.

Times haven't changed, lol!
sT still talks BS, lol!
Sikhthetech, apart from being the village idiot, is now on it's 6th year of being wrong, lol!

Remember my statement...
BoE Base Rate at 6%
Absolutely no chance.

Imo, BoE to cut base rate from currently 5.25%,(not 6%). Starting in Q3 2024.

You heard it first trolls, watch and learn, lol, just lol!

[kreature] 14/3/2024 17:26

Becky is a bit quiet for some reason ?

[kreature] 14/3/2024 09:45

£10 support ?

[kreature] 14/3/2024 09:10

It’s like the Titanic trying to use a few air-bags at the surface isn’t it ?

[kreature] 14/3/2024 04:04

PSN scheming to do the thing? But wouldn’t it be easier to just reduce the ticket prices of the houses ? Personally I think all the houses should be priced at the same amount that social housing residents pay to move in. So one price for everyone?

[kreature] 14/3/2024 03:47

I feel sick watching this for some reason.

[kreature] 13/3/2024 23:19

Hmmm, under 1300 tomorrow? That director-buy looking futile ?

[beckers2008] 13/3/2024 13:54

""Beckers2008 - 26 Oct 2022 - 12:33:16 - 10891 of 17651

Jugs,

The idiot sT, posts words and numbers before it thinks, lol!

BOE base rate at 6%, no chance.

We won't mention bank to bank lending rates as the village idiot 'Sikhthetech' won't want you to rip him a new one again, lol, just lol!"" END.

Times haven't changed, lol!
sT still talks BS, lol!
Sikhthetech, apart from being the village idiot, is now on it's 6th year of being wrong, lol!

Remember my statement...
BoE Base Rate at 6%
Absolutely no chance.

Imo, BoE to cut base rate from currently 5.25%,(not 6%). Starting in Q3 2024.

You heard it first trolls, watch and learn, lol, just lol!

[sunshine today] 13/3/2024 05:31

Look for house builder margins to get smashed as they are forced to put millions into sink funds, on every site, to cover the upkeep of communal areas for the next 1,000 years.

Local councils don’t want that liability.

New home purchasers are fed up being stung with inflated unknown costs, after being stitched up by the house builders over the last decade.

[sikhthetech] 12/3/2024 23:09

Immigration/demand.

During GFC there was demand from Europe. Several East European countries joined the EU in 2000-2004 and there was freedom of movement. Post brexit, that freedom of movement no longer exists.

Plus if there was huge demand then why are HBs reducing no of builds? Potential homebuyers can't afford the homes, so HBs reduce the supply.

[kreature] 12/3/2024 22:08

Taliking of scheming, how much would paper/timber frame houses cost if banks and mortgages were completely removed from the equation?

[kreature] 12/3/2024 21:58

Scheming? Or just reduce the price to what it should be ?



So 5% of 300k is a 15k gift from ‘the bank of poor mum and dad’. And you give them 2k of that back, so now they are still down 13k ? Terrific, why not just reduce the price of that paper framed fleecehold house by say 75% ?

[sikhthetech] 12/3/2024 20:20

It's not all about interest rates. House prices are simply too high.

The govn has huge debt and so is not in a position to provide a needed boost.


Unlike GFC, when the govn introduced the Help to Buy scheme. HBs made hundreds of millions of pounds from the scheme.

Giving home buyers 20% (40% in London) interest free loan provided HBs to opportunity to grow quickly. Now FTBs have to raise bigger deposits, which is difficult to do, whilst renting.

It's not all about interest rates.