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Mortgage rates ticking back up this week won't help. Solid update though as you say, nothing unexpected. Hopefully the dividend will hold at the half year.
COMPANIES - FTSE 100
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Taylor Wimpey said the Spring selling season is progressing in line with our expectations, ahead its annual general meeting later on Tuesday. Looking ahead, the housebuilder reiterated guidance. It said it expects 2024 UK completions to be in range of 9,500 to 10,000, with completions weighted 45% to 55% in favour of the second half of the year. Chief Executive Jennie Daly said: "We have made a good start to 2024 with the Spring selling season progressing as expected. While we are mindful of ongoing market uncertainty and affordability challenges, it is pleasing to see continued market stability supported by good mortgage availability and sustained customer confidence."
Well, steady as she goes. No surprises either way. See what gives at the live update. At least the general market backdrop is positive at the mo, so shouldn’t have any undue negative impact.
AGM & Trading Update Tuesday, hoping for a bit of a boost here after recent weakness.
(Sharecast News) - RBC Capital Markets upgraded Taylor Wimpey on Friday but downgraded Berkeley as it took a look at the two UK housebuilders. Taylor Wimpey was raised to 'outperform' from 'sector perform' with an unchanged price target of 175p.
"Taylor Wimpey has the wind behind its sales, and we like the cut of its jib," RBC said.
"Of the housebuilding majors it is the least distracted by management change, strategic change or potential M&A activity.
"We believe it is reading the weather well: that the weather is improving. With all hands on deck it may be the first to react to improving market conditions and the first of the large caps to meet its medium-term goals."
The bank also said that while volume growth is a story for 2025 and beyond, the dividend is a key part of the story today.
"The shares offer a highly stress tested yield of 5.4%, and with interest rates likely to fall this year we would advise those looking for income tomorrow to lock in this yield today."
JPMorgan raises Taylor Wimpey to 'overweight' (neutral) - price target 150 (101) pence
GLA
Hi maninpink
I am in Australia at the moment but I have noticed a lot more attention towards the tradesmen, ( more people trying to get you to work for them) !
Site agent wise , they have upset so many it scares me!
But hey they reap what sow!
All the best and let the trades stick together!
Ben
How many if any TW new build housing contracts have maintenance contracts for communal areas ?
On the rest, quality, I have been around TW, George Wimpey contracts for 42 years and always noted the build to be better than most, especially the likes of Persimmon. Currently TW push quality build so much its quite hard for the poor subcontractor who is expected to give 100% spot on work.
Lets talk TW up instead of bashing it.
We had onerus ground rent scandal
Fire safety/cladding.
Help to Buy.
CMA investigations.
Now 'fleeceholds'
as well as poor quality builds.
Housing estate 'fleeceholds' the next great scandal, Tory peer warns
"A Conservative peer - and ex-adviser to Boris Johnson - has warned "fleeceholds" will be "the next great scandal" to hit the housing market.
The term is used to describe the plight of homeowners on new-build estates locked into private maintenance contracts for communal areas."
https://www.bbc.co.uk/news/uk-politics-68673216
New homes poor build quality.
"A Competition and Markets Authority (CMA) report, published last month, has raised concerns about the build quality of some new homes, and a petition has been set up calling for government accountability for substandard housing and infrastructure."
https://www.bbc.co.uk/news/uk-england-berkshire-68663984
Yes - all in last report. But this year, this year from January, starting to pick up, 2024 will be better for TW and year after better agin, assuming not extra wars etc !
Only issue currenly is new regulations that have to be done, part L etc.... as regs are normally related to date of planning it not normally a issue, but Partl L is not so it may not have been costed when site started..... dont worry to much though as usual its the poor subbie expected to do more and be paid less . ;)
To be fair they've been allocated the shares if they wait 3 years. They haven't dipped into their pockets.
Directors today bought 221,576 shares ...
Good sign im my humble.
The likes of Persimmon (PSN) and Taylor Wimpey (TW.) have pulled back on development in order to safeguard existing profitability, resulting in lower forward order books for both than in 2022. Meanwhile, high-end housebuilder Berkeley (BKG) has stopped building entirely. It ostensibly blames restrictive planning regulations, but the laws of supply and demand are almost always the real drivers behind housebuilders’ actions.
https://www.investorschronicle.co.uk/news/2024/02/01/ftse-350-review-the-best-value-housebuilders-in-a-cheap-industry/
1. Cyclical nature of the business.
2. Inflation/high interest rates.
3. Sector weakness in general.
Welcome comrade.
Currently looking at Homebuilders, - anyone have info why TW. fundamentals seems to have dipped for 2023 - note divi held up
The TW. price has held up well today given the dividend.
As a very new shareholder here I thought I would post this article .... https://www.sharecast.com/news/news-and-announcements--/upturn-in-housebuilding-boosts-uk-construction-sector---pmi--16385928.html
The ftse is bound to fall it's getting near the 8000 mark some bargains to be had.
The share price dropped after we heard about the builders sharing prices probe . Might drop further after ex divi
I feel the share price tends to bounce between the mid £1.40s and late £1.30s. i guess you could make some money buying and selling some of your shares on the rises and dips.
I Have seen the price go up after ex div day.
So who really knows, its about buy/sell. more buys than sell and prices goes up, so its really how many sell after Ex div day, and we dont know - I still feel should be 150 and better. like to think when the world settles down more investers push this back to £2, next yedar or two. Been there not that long ago
Nomad
Fwiw I agree with Connexion....chances are when they go exvdivi on 28th March the SP could well drop below the level of the Divi payout...
I bought at 139 ish ...2 weeks ago expecting the SP to rise before ex divi day as Divi chasers moved in...this has not happened
That's hard on you though...Both a non index linked pension why??
+ Barclays closing your account due some Brexit
Are you being penalised for emigrating?