I'm personally confident that they will hit £6 sooner than later, difficult to attribute a date to this. Strong fundamentals are going to drive this sector going forward, demand is strong and will continue to be, land banks in place to exploit the conditions should mean healthy profits for the years to come.
My only slight hesitation is I think people are jumping back in, but has the short-term macro picture improved? There has been some better than expected data, but I remain cautious.… Read More
I think Persimmons Half Year results the other day have largely reassured the market that the Brexit reaction was massively overdone. I'm really hopeful that SP will recover to £6 in the next two months on the back of strong results from Bdev and others.
All house builders, and particularly the Nationals bought a lot, of what is by now, cheap land from 2010 onward. I'm convinced they'll have enough wiggle room in their books to do deals and hit their targets while maintaining profits.… Read More
Quite a considerable rise over the last couple of days. I said to myself that I'd sell at £5, expecting to be around Christmas. Now I'm asking myself if that is a good idea or not! I don't think it will rise much above £5 in the forthcoming days, and probably retrace to 480ish - but could this be back above pre-brexit (£5.77) by Christmas?
Not a very insightful post, I know - but food for thought.
Persimmon results have borne out what I'm seeing where I work at least. Hope for a charge back up towards £6 with similar Full year results from Bdev on 7th Sept and realization that, though Brexit risks still need to be worked out, this is NOT 2008-2010, and house builders can and will sell as many plots as they can build.
I work in house building, though not for Barratt. Drop off in Sales post Brexit coincided with quieter Summer selling season, but fair to say there was a negative impact. Attitude to Land Purchase certainly took a 'wait and see' view to see how things play out. HOWEVER, things getting back to normal now. The sky hasn't fallen in, mortgages readily available & the UK still needs more houses than we can build. Visitor levels are back to Pre-Brexit levels and up on last year.
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