Redrow Share Discussion Threads

[zimzoot] 10/6/2008 10:30

Barratt, Persimmon and Redrow shares hit as housebuilders take a pounding

By Angela Monaghan
Last Updated: 9:09am BST 10/06/2008

Shares in some of the UK's biggest housebuilders took another pounding this morning after the latest report on the state of the market showed that the number of homes sold had "collapsed" to their lowest level in 30 years.

Barratt was the biggest faller, down 12pc to 106.75, and fellow FTSE 100 company Persimmon fell 5pc to 406p. Redrow shares were down 8pc to 181.25, and Bovis Homes weakened 5pc to 354p.

None of the housebuilders escaped share price falls after the Royal Institution of Chartered Surveyors said today that the fall in home sales far exceeded the housing crash of the 1990s and was the lowest since records began in 1978.

The average number of houses that estate agents sold in the past three months was 17.4 - almost a third lower than a year ago, says the Royal Institution of Chartered Surveyors (RICS).

The latest fall in shares prices adds to a gloomy 12 months for housebuilders, some of which have fallen by as much as 80pc since the onset of the credit crisis.

Housebuilders have said that the marked fall in availability of mortgages since Easter has hit sales hard, and the industry has already cut hundreds of jobs.

The RICS said that in addition to the lack of mortgage funding, the controversial practice of gazundering - where buyers drop their offer price after agreeing to purchase a property - had returned.

Tim Edmonds, an estate agent and RICS member, said: "Transactions have virtually halted. Where sales have been agreed, it is very difficult to get them through to exchange."

[sofa spud] 04/6/2008 15:12

Sorry for double post - error!

[sofa spud] 04/6/2008 15:12

Quote:...."Analysts reckon Barratt Developments, Britain's second-biggest housebuilder, will hit the acquisitions trail". Which analysts - very drunk ones?

Unless we mean someone might try and acquire the remnants of Barratts, that is.

[matkinsell] 05/5/2008 17:47

Bellway in bid approach for Redrow




LONDON (Thomson Financial) - Construction firm Bellway PLC has approached
rival Redrow with plans for a 1.3 billion pound merger that would create the
U.K.'s second-biggest housebuilder, the Mail on Sunday reported without citing
sources.
The paper said the approach, prompted by the effects of the credit crunch on
the housebuilding industry, is the second that Bellway has launched for its
smaller rival.
Neither company could immediately be reached for comment.


[e-mail]
mn/ro

[matkinsell] 05/5/2008 17:47

Bellway in bid approach for Redrow




LONDON (Thomson Financial) - Construction firm Bellway PLC has approached
rival Redrow with plans for a 1.3 billion pound merger that would create the
U.K.'s second-biggest housebuilder, the Mail on Sunday reported without citing
sources.
The paper said the approach, prompted by the effects of the credit crunch on
the housebuilding industry, is the second that Bellway has launched for its
smaller rival.
Neither company could immediately be reached for comment.


[e-mail]
mn/ro

[pdh] 04/5/2008 13:27

Mail on Sunday report a merger with Bellway. anyone heard anything else.

[yewtrees] 21/4/2008 09:27

Daily Mail - Citigroup recommend sell.
My observation this morning though is that someone wants the shares. Again some regular amounts going through at a good price.

[yewtrees] 16/4/2008 10:09

Trading on this share seems a bit strange this morning!

[sofa spud] 08/4/2008 20:44

Farrs - Westbury, Wilts - big locally, don't know if they were a PLC, probably not.

[bigbertie] 08/4/2008 17:54

Beazer didn't go to the wall - it agreed to a merger with Bryant which was not a very exciting prospect for shareholders, so Persimmon were able to make a hostile bid and buy it. I remember - I bought both Beazer and Bryant shares on news of the merger and was lucky enough to see both taken over.

I don't remember Farr's - how big were they and what happened to them?

[sofa spud] 08/4/2008 11:42

Quote: ...I seem to remember quite a few builders went to the wall, as it were, when the last property crash occurred.

Farr's, Beazer..

[mike24] 03/4/2008 12:08

06 the average 2yr fixed rate m.was 4.96pc
now its 6.09pc, a TWENTY TWO % increase
barc are losing money on lifetime tracker rate
given 9months ago,

[bigbertie] 01/4/2008 10:15

an immediate bid may be unlikely but in the medium term very likely. However I think we should change the header title - Barratt is out of the running - all IMHO.

[wapper] 01/4/2008 10:14

Mike...That is exactly why bids are a certainty in Builders / Banks & Retail. Bargains galore out there & lots of cash swilling around to snap them up.
I think Redrow is in play. All builders clobbered & Redrow up 10% in last 3 trading days.

[berkley3] 01/4/2008 09:09

i hope there is no bid it is hard to find decent co's to invest in imo

[mike24] 31/3/2008 23:44

bid coming? you have to be out your tree
to expect any bid in banks/retail/builders
C&G taking FOUR wks to get a mortgage offer out
a week is the norm,
edit
what their NOT telling you is wait until JULY and the true
extent of this unholy mess will be revieled, then there will
be some serious bargains,

[london01] 27/3/2008 13:51

It's a UK hedge fund.

[wapper] 27/3/2008 13:47

Seems Tosca are an Asset Management operation....somebody stakebuilding...Lets hope theres a bid coming soon.

[berkley3] 27/3/2008 12:25

i think they are an american hedge fund.

[wapper] 27/3/2008 09:42

Who are TOSCA ? Serious stakebuilding here.

[wapper] 26/3/2008 07:59

Will be some consolidation before this happens this time round. Just a sniff of a takeover in the sector & all the builders will be back in favour as valuations way too low IMHO.