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Sttl - It was as expected though - maybe a little better
You have picked the nagatives. - onwards and upwards - ps the share price fell on the day, but so did every other share I hold, so thats not a cencern.
Trading update was for me neutral. Which is fine for me price may drift into divi reinvestment territory.
But I suspect it will tick upwards as inflation continues to drop.
I assume he or she means Trading Update.
Sorry who is TU? Surely you don’t mean Tui??
I didn't think the TU was good.
The figures from the TU says it all
Weekly sales rate falling.
Order book down 8.7%.
Net cash declined, 21%, £180m to £678m.
Outlook remains uncertain
Previous times, it's taken years for the market to recover. They need the market to recover quickly or conserve cash, sell assets, cut dividend. If there's another major drain, like Ground Rent scandal or fire safety improvements, they could find themselves using more cash than they expected.
Taylor Wimpey's full-year average weekly private sales rate fell from 0.68 to 0.62 as a result of "difficult market conditions".
The group completed 10,848 new homes over 2023, down from 14,154 in the prior year. Average private selling prices in the UK rose by 5.1% to £370,000.
Taylor Wimpey's order book slipped 8.7% lower to £1.8bn. The group's net cash position fell from £864mn to £678mn.
Full-year operating profit is expected to be at the top end of the group's £440-£470mn guidance range.
Heading into the new year, the market remains uncertain but Taylor Wimpey expects recent mortgage rate reductions to improve affordability for buyers. Build cost inflation is set to run at around 4% in the first half.
https://www.hl.co.uk/shares/share-research/202401/taylor-wimpey-profit-expected-at-top-end-of-guidance
Steady trading update in a difficult environment.
Ticking up nicely..... 163p next major resistance.
Hold for dividend and growth 😊
Happy I own Tw bdev and Barratt.
Just wish I’d bought more Tw at 89p or anything up to 120. I did overall put £14k in the 3 at low prices before during and after Liz truss debacle , but wish I’d put in more.
Sharecast News) - Housebuilder Taylor Wimpey is set to deliver profits towards the top of guidance for the full year but said that the market remains "uncertain" despite a recent reduction in mortgage rates.
In a pre-close trading update for the 2023 financial year, the group expects operating profit to be at the high end of the target range of £440m to £470m.
"Despite the difficult market conditions throughout the year, we maintained a sharp operational focus and delivered a good performance," said chief executive Jennie Daly.
Total group completions came to 10,848 last year, down sharply from 14,154 in 2022, with the net private reservation rate falling to 0.62 homes per sales outlet per week from 0.68. Excluding the impact of bulk deals, the net private sales rate was 0.54, well below the 0.65 reported in 2022.
Nevertheless, UK average selling prices on private completions were up 5.1% on the year before at £370k.
"Looking ahead, it is encouraging to see a reduction in mortgage rates, however, in the short term the market remains uncertain and the planning backdrop extremely challenging," Daly added.
Taylor Wimpey ended the year with a lower order book valued at £1.77bn, down from £1.94bn at the end of 2022, which represents 6,999 homes down from 7,499 previously.
"As previously guided, we enter the year with a reduced order book. Whilst too early in the year to gauge customer behaviour, we have seen good levels of enquiries so far this year and it is encouraging to see recent mortgage rate reductions which will improve affordability," the company said in its outlook.
"The planning environment remains challenging and will continue to impact outlet openings. However, as we look ahead, with a strong balance sheet and a highly experienced management team, we remain well positioned to optimise our strong landbank and strategic pipeline and remain confident in the attractive medium and long term fundamentals of the sector."
Let's hope the share price rises 5% like persimmon yesterday 🙂
Https://www.londonstockexchange.com/news-article/TW./trading-statement/16284184
Outlook getting more favourable... interest rates cuts are coming .
A huge builder is Scotland and the north. Maybe TW will pick up the pieces.
https://www.bbc.co.uk/news/uk-scotland-north-east-orkney-shetland-67918029
Https://www.fool.co.uk/2024/01/08/2-ftse-100-housebuilders-set-for-a-much-better-year-ahead/
Glad I bought plenty tw psn bdev for 18 months to October. Will hold long term for divis
Will not be reinvesting divis or topping up at this price though
UK house prices rise again but Halifax forecasts up to 4% drop in 2024
Growth rates driven by shortage of properties on market, says mortgage lender, with typical home worth £287,105
"However, Halifax said that the monthly, quarterly and annual growth rates were driven by a shortage of properties on the market rather than strong buyer demand."
"However, analysts at Goldman Sachs have estimated that UK homeowners are facing a £19bn increase in mortgage costs by the end of next year as millions more fixed-rate deals expire, putting additional strain on household finances.
Halifax still expects house prices to fall by up to 4% this year as high interest rates and inflation stretch mortgage affordability.
The lender said that the price of an average UK property would fall by between 2% and 4% this year, despite a new year mortgage rate-cutting spree by major lenders."
https://www.theguardian.com/business/2024/jan/05/uk-house-prices-rise-for-third-month-in-row-but-are-forecast-to-drop-this-year
I can see this steadly rising to £2.30 again its been years since its been that price.
I’ve changed my profit target from £1.50 to £1.85 🤞🏾
Mary - Time will tell. A broker update today also albeit they are a bit behind the curve with the target. Still better late than never!!:
UBS raises Taylor Wimpey to 'buy' (neutral) - price target 160 (126) pence
Rgds, S
Saintly
Very apt for long term holds -- through suffering to the stars.
Seems to moving ahead of the results so no doubt the market is "knowledgeable". A bit like CMCX the market knew the information several trading sessions ago.
Will trim at 170p if it spikes there.
Add on weakness.
Looking forward to next Thursday when TW are due to issue their latest trading statement. Hoping for positivity all round and the kick start we need to propel this share to the next level. This trading statement could be the solid foundations for 2024 that we so dearly could do with. Well we can but hope lol. Continued good fortune to all TW shareholders, those considering getting in and to those merely watching. Per Ardua Ad Astra. Rgds S
Same here
The average rate on a two-year fixed mortgage has fallen to its lowest level for nearly seven months as lenders compete for custom.
Seems like as soon as all the members return to the babling house after their well deserved holiday they will introduce a new incentive scheme for first time buyers. That should postpone the enevitable colapse in the property market until after the election. Speaking to lots of young people over Christmas it seems a toss up which goes pearshaped first. Builders or buy to let landlords. Many told me they have given up on having children and are simply surviving ..
Own all three. TW, PSN and BDEV
I've never been this weighted towards property in my portfolio, it's slightly unnerving but let's see what 2024 can deliver.