Redrow Plc

-0.80 (-0.16%)
Share Name Share Symbol Market Type Share ISIN Share Description
Redrow Plc LSE:RDW London Ordinary Share GB00BG11K365 ORD 10.5P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.80 -0.16% 496.20 52,575 12:56:25
Bid Price Offer Price High Price Low Price Open Price
495.80 496.80 506.50 493.00 506.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Subdivide, Dev, Ex Cemetery 2,140.00 197.00 - 8.64 1,686.02
Last Trade Time Trade Type Trade Size Trade Price Currency
12:55:06 AT 194 496.20 GBX

Redrow (RDW) Latest News

Redrow (RDW) Discussions and Chat

Redrow Forums and Chat

Date Time Title Posts
13/4/202308:18The Redrow Thread1,277
16/7/202208:58*** Redrow ***7
15/4/201912:24Redrow - could be argued it's only worth 200p at present6
06/9/201812:41 U.K HOME BUILDERS: Buy on the dips!14
05/5/200817:47Barratt bid rumours surface150

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Redrow (RDW) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type

Redrow (RDW) Top Chat Posts

Top Posts
Posted at 12/1/2023 11:43 by sikhthetech
There you go, as expected, H2B ending has a sharp impact on the sales rates..

Sales falling off the cliff. Monthly cash cost of mortgage payments to FTB approx doubled!!!

Energy price surge, tax increases on top of that..

And it's early days.


"Higher mortgage rates, inflation, heightened market uncertainty and the end of reservations under Help to Buy in England, had a sharp impact on the Group's private sales rates in the fourth quarter and will have an adverse impact on the outlook for 2023. Taking together the absence of Help to Buy and the increase in mortgage rates, we estimate that the monthly cash cost of mortgage payments for some first time buyers has approximately doubled over the past year(1) compounded by limited availability of high loan to value mortgages. While we are promoting initiatives to stimulate demand, including the recent launch of our "10 months mortgage free" customer offer, which generated a strong increase in website enquiries in its first week, it is too early to predict when there will be a recovery in demand."

sikhthetech - 18 Dec 2022 - 20:15:56 - 3892 of 3964
HBs updates are due in about a month.

H2B ended to new applications at end of Oct, mortgage interest rate rises, affordability at crisis point...

Completions will still be ongoing for orders already taken. The last 3 months of sales, cancellations will be the interesting points.

Consequences of H2B ending and the delay in buying by potential buyers waiting for interest rates to come down should have a negative impact on housing market.

Posted at 07/12/2022 13:35 by sikhthetech
There you go...

UK house prices fall at fastest rate for 14yrs... since GFC property crash...as expected..

UK house prices fall at fastest rate in 14 years, says Halifax
Average price of property in November was £285,579, down 2.3% from £292,406 in October


Posted at 14/11/2022 12:20 by sikhthetech
There you go, reported today. Demand falling, as per my stance.

As commented, watch the demand decrease and supply increase


Exodus of first-time buyers puts brakes on UK housing market

"Figures from the property platform Rightmove show buyer demand fell 20% in October compared with a year ago, as house-hunters put their property searches on hold in response to soaring borrowing costs and rising economic uncertainty."

"Rightmove’s monthly house price index showed first-time buyers were the most hesitant, with demand down 26% in October. Demand from “second steppers” hoping to move from their first home was down 17%, while interest among those at the top of the property ladder was down 15%."


Posted at 10/11/2022 20:27 by sikhthetech
Following on from lenders forecasting 10-15% crash in house prices, RICS index now turned negative, from +30 in Sept to -2 in Oct.

That's as well as:

Lenders reporting drop in prices.
Lenders forecasting 10-15% crash in house prices for next year.

Asking prices significantly lower.
Mortgage approvals falling.
HBs stating slowing housing market, increase in cancellations, falling demand.

Demand falling, as expected

Best to trade hyped sectors

RICS, surveyors index has gone from +30 in Sept to -2 in for last month.

"The RICS UK Residential Market Survey showed that a net balance of -2% of respondents cited an increase in house prices in October 2022, turning negative for the first time since June 2020 as rising mortgage costs stoked caution among buyers."

"New buyer enquiries also fell for the sixth straight month in October, while survey feedback on buyer demand was negative across the UK."

RICS chief economist, Simon Rubinsohn said: “The latest feedback to the RICS survey provides further evidence of buyer caution in the face of the sharp rise in mortgage costs. As a result, the volume of activity is likely to slip back over the coming months and realistic pricing is now much more important to complete a sale."


Posted at 09/11/2022 21:51 by sikhthetech
If you look at the share price rise at around 3pm...
HBs rose in sync.

Have a look at LGEN, IAG, EZJ, BARC etc... They all rose at the same time.

Therefore, share price rise at 3pm had nothing to do with TW's TU, just general market movements, as expected.

Best to trade hyped sectors.

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

Posted at 09/11/2022 17:29 by sikhthetech
PSN TU yesterday - sales slowing, cancellations increasing...

Help to buy ended to new applications just last week, 31st October. HBs made millions from the H2B scheme, so future sales due to that scheme are now lost.
20% of PSN completions for this year used H2B scheme, which is a significant number.

What scheme, if any, will the govn announce with their Autumn Statement next week, especially given they need to reduce borrowing and spending???

Cancellations up.

During GFC HB share price fell 80-90% after lenders were forecasting 10-15% drop in house prices. I was forecasting 40% drop, peak to trough, in some areas. I'm expecting similar this time.

""Rising interest rates and broader economic uncertainty are clearly impacting mortgage lending and customer behaviour and this is reflected in our recent weekly sales rates and forward sales position. Persimmon enters this more challenging period as a five-star builder, with average selling prices below the market average, high quality land holdings, and a robust balance sheet."

"While the Group remains well-positioned to deliver its full year volume expectations of between 14,500 and 15,000 units, the last six weeks have seen cancellation rates increase to 28% from 21% in the preceding 12 weeks from 1 July 2022, introducing some uncertainty."

"Help-to-Buy has now closed for new applications, and was utilised on c. 20% of completions in the year to date. "

Posted at 08/11/2022 16:31 by imastu pidgitaswell
That's a pretty good reaction to PSN's trading statement.

Too early to say, but when bad 'news' results in shares not falling, it can be a sign of a bottom. RDW's owns statement is due on 11th November, (with the AGM).

From last time's statement, it was notable, and posted here, that a significant chunk of their buyers are mortgage free and include downsizers; only 8% were H2B. And in any event, the homes they build are of far better quality, not cladded buildings of flats - there are differences between builders, and this market swing into a down turn will make that apparent, I think, in terms of share prices.

Posted at 23/10/2022 16:43 by tmfmayn
[SharePad] Screening For My Next Long-Term Winner: REDROW #RDW

"The gloom has pushed Redrow’s price to NAV to levels last seen during the pandemic crash and the banking crash"


Posted at 14/9/2022 17:22 by sikhthetech
Results look back, markets look forward.
Affordability is a major problem. Energy prices are surging again from 1st Oct, 2 weeks time.

sikhthetech - 17 Feb 2022 - 16:10:55 - 1224 of 1236 The Redrow Thread - RDW

When house prices crash, the asking price sees the biggest falls, as buyers ask for bigger discounts.

New Builds normally command a significant premium(can be 25-30%) over similar existing builds. That premium difference would reduce when house prices fall, so they too should see a bigger fall than the avg existing build.

House prices do not fall at the same rate across the country.

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.

Posted at 14/9/2022 17:13 by kalai1
Redrow plc posted Finals for the 53 weeks to 3rd July titled “A return to the record underlying profits achieved pre-COVID.” Revenue increased by 10% to £2.14bn and is now slightly above the 2019 pre Covid record level of £2.11bn. Underlying profit before tax was up 31% to £410m, also up and a little beyond its pre-Covid record level. Underlying EPS was up to 96p. The final dividend increased by 19% to 22.0p making 32.0p for the year. The Group launched a share buyback program for up to £100m in July which has triggered some upward FY24 EPS guidance to >96p. The order books remains solid at £1.44b. With the sector as a whole under pressure in 2022 so far, valuation is now very attractive with forward PE ratio at 5.3x ranking RDW 2nd best out of 30 names in the Homebuilding & Construction Supplies sector. The company is also high quality in terms of profitability and solid balance sheet. Main clouds, the share price lacks near momentum, the macro backdrop also remains unhelpful for the time being. Redrow will be worth buying at some point, but is a share to monitor for now...

...from WealthOracle


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