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speak of the devil liberum published a positive note on builders today. persimmon and taylor top picks
the whole sector has been moving lower in varying degress since april. youve got higher input costs and the stamp duty cut off along with rising rate risks all combining to put pressure on the sector. however order books overall are strong as will be selling prices so i believe its will soon be time to add to the sector.
Is the relentless bleed of this share ever going to end???!? It’s been red almost every day for like a month
Housing market is on fire. We are moving and found a place 3 weeks ago. Out of interest just logged into rightmove, and noted every single property we saved up to 3 weeks ago is now SSTC. Never seen that before. You normally always get a few that just are not selling.
Market has not fully noticed it yet or priced it into housebuilders I think.
I think we are going to have a good dividend this year!
I posted a similar comment on the TW board but wanted to share it here as well because I think it's relevant.
The US house builder shares have been going through the roof despite the price increases in lumber, etc.
Just look at the ITB Home Construction ETF:
https://finance.yahoo.com/quote/ITB/
It's basically 50% higher compared to pre-covid. Considering that the housing market in the UK seem pretty hot I'm not sure why we haven't seen the same price action in UK house builders. Perhaps people expect the market to cool down after the stamp duty holiday?! However, looking at Scotland which didn't extend it the market has stayed really busy.
So perhaps by the autumn people will wake up and realise that this is a real housing bull market and then price the house builder shares correctly. Looking at RDW, it's not even where it was pre-covid and the housing market is in a much better shape with Brexit behind us, people with savings in their pocket and looking to move due to the new WFH culture, and support from the government at least till September.
The stock is really undervalued IMO. I think at the very least we should get to the pre-covid share price before year-end and that's a 23% upside from here!
Same Here I have bought Redrow and Tw too . Should do very well with less. Planing restrictions now.
Got quite a substantial holding in RDW. I'm still around -6% overall due to Covid meltdown but i see us hitting over 825.00 by year end. All looking good.
Millsy, I totally agree. I looked at all of the house builders and those are the two I ended up buying. Great companies and both undervalued. So far I've done better with RDW than TW but it's still early days for me.
Think TW and redrow are the house builders to have. Redrow build decent quality houses and I bought in RDW not long before pandemic and have only just made back my money, creeping back into profit. Should have bought more while the price was so low. Done well on TW though
This share bumped its head on £7 yesterday after powering on for 6 months! And not a peep on this BB. Happy days.
Roll on the results and dividend!
How come? It could be just a big fund positioning itself and buying in big chunks daily. Also the FTSE 250 has been going up significantly in the last 1 month so there's probably some index buying involved as well.
When a share moves significantly without any news like the HB's right now!
I like how quiet this board is. Some of my biggest winners came from companies that no one cared to comment on haha
Liberum raises PT to 790 from 745.
Dimi,
Whatever I do, I would normally recommend doing the opposite when it comes to investments!
HOWEVER, my friend who works in construction recruitment put me onto TW years ago and I took a punt then. It wasn't too long after the crash and, seemingly, TW sensibly had acquired quite a 'land bank' so were able to ride it out notwithstanding the fact their sp went very low (as did nearly every equity stock). More recently (a month or so ago), the same pal put me onto RDW and so I took another punt. I should add that none of this is insider info, but his views re the competitors correspond with yours. They also represent my exposure to the UK housing market.
Fingers crossed that it's onwards and upwards!
Okay, folks, I'm in. Just put 5% of my portfolio into RDW. I wanted about 10% exposure to the UK housing market so I put 5% into Taylor Wimpey and 5% into RDW. I think these are the best of the bunch. They are better companies and have bigger upside compared to Barratt, Berkeley, etc. I quite like Persimmon but felt it's fully priced and there's little upside.
I did quite a lot of due diligence over the last few weeks and couldn't decide which one of RDW and Taylor Wimpey I like more so I bought equal chunks of both haha.
So, looking forward to some nice discussions on this BB hopefully over the next several years!
Via Morningstar today
JPMORGAN RAISES REDROW PRICE TARGET TO 750 (710) PENCE - 'OVERWEIGHT'
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JEFFERIES RAISES REDROW PRICE TARGET TO 751 (715) PENCE - 'BUY'
I think better news for Redrow was the 5% mortgage support coming from the Gov.
Looking forward to hearing some good news in todays budget regarding extension of the stamp duty holiday. Whatever happens RDW is still well below where we should be. Business is doing great a recent broker recommendations pit this in the £7 bracket.
Yeah... the 2.2m sells seem very counter the high analyst forecasts.
Again, the trading update looked excellent though
We can pretend that the large share sells by Tutte are a positive :/
Stamp duty holiday to be extended and us interest rates to stay low for 2 years .
Can someone provide some positives to keep me upbeat? This form is too quiet :-(
Yeah, there’s been some run up. It appears undervalued though, and I don’t really understand why it’s consistently being sold off after results - makes me feel like I must be missing something