Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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8 December 2015 1:43am City A.M. According to analysts from Shore Capital, business is looking rosy for property developer Berkeley Group, with trading for its first half of the financial year roughly in line with expectations and the underlying profit before tax of £242m, marginally beating estimates. However, despite the positive signs for the company’s income, the brokers maintained a “hold” recommendation.
Tom Pidgley: Berkeley founder’s bonanza as millions more flow to backers Tom Pidgley stands to gain £23m as part of the £500m windfall to shareholders Russell Lynch Saturday 5 December 2015
Berkeley shares jump on dividend boost Financial Times December 4, 2015 3:15 pm Judith Evans, Property Correspondent
Financial Times Berkeley shares jump on dividend boost Housebuilder’s stock jumps 10% on additional payout
05/12/2015 The Scotsman In stocks, housebuilder Berkeley Group was the strongest riser in the top flight, up more than 7 per cent, or 250p to 3,602p. The firm, which focuses on luxury developments in London and the south-east of England, posted pre-tax profit down 3.8 per cent to £293.3 million in the first six months of its year, but pledged to boost dividends by a quarter over the next six years.
MARKET REPORT: By PHILIP WALLER FOR THE DAILY MAIL PUBLISHED: 21:50, 4 December 2015 Investors built stakes in Berkeley after the upmarket housebuilder shrugged off a government shake-up of buy-to-let taxes with a pledge to increase dividend payments. Shares soared 250p to 3602p.
Berkeley Homes’ founder-chairman says George Osborne’s decision to levy higher taxes on buy-to-let landlords and second homes puts his own housebuilding programme at risk By ROB DAVIES FOR THE DAILY MAIL PUBLISHED: 21:50, 4 December 2015
Another Questor triumph. Trashes it on Monday at 3135p and it closes Friday at 3602p. Old Questors must be turning in their graves. Great results here today and the divi goes upwards again and the sp soars as well.
Is not in a week..look at the chart
I would not read too much into it. I am not sure how many house builders you are tracking, but compare with TW (187 to 200) and BDEV (56x to 610) if you have not already. Both have seen large increases over the past week, or should we perhaps say return towards previous valuations. If you want to see changes in SP that make little sense, look at GMD and look at the amount of news available that would justify such changes. Makes you wonder what people know..
and then we get a really good RNS? Wow. I daren't say anything.
Questor Buy-to-let woes hit Berkeley Group The FTSE 250-listed housebuilder has endured a rocky week as buy-to-let investors come under pressure, says Questor 28 Nov 2015 |
Bank of England chief economist says UK housing market "broken" Thu, 12th Nov 2015 19:13 LONDON, Nov 12 (Reuters) - Britain's housing market is "broken", the Bank of England's chief economist Andy Haldane said on Thursday, in an unusually forthright criticism of the lack of new homes being built. Haldane said Britain needed to build around 200,000 new homes a year, and that its failure to build much more than half that -- largely due to a lack of new public housing -- had caused prices to rocket. "The UK housing market is broken," he said at a meeting hosted by Britain's Trades Union Congress. "There is a chronic and accumulated imbalance between demand and supply, and it is that which is sending skyward - and has sent skyward - house prices." Asked separately whether the BoE should print money to fund government infrastructure projects, Haldane said there was a good case for more infrastructure investment but that the government could borrow very cheaply from financial markets. (Reporting by David Milliken; editing by Ralph Boulton)
Expert blogger and former Barclays Stockbroker has added Berkeley to his blog watchlist. See what he thinks here: http://www.lse.co.uk/blogs/expert/david-harbage-blog/azio2t/
Scotland’s commercial property needs ‘rapid recovery’: Scotland’s commercial property market faces a New Year hangover unless a “rapid” recovery in the economy kicks in over the next couple of months, a key report will warn this week.
London’s house prices are the most over-valued in the world: Economists warn that capital is in ‘bubble-risk territory’: House prices in London have become so over-valued that they are completely out of the reach of all capital dwellers living off a local income, top global economists have said. A UBS study revealed that only Hong Kong is worse in terms of affordability for city dwellers trying to buy their own place than London. They say homes in the city cost more than ever before in comparison to wages, with the average price now sitting at an eye-watering £500,000.
Sales of costliest houses dry up as top rate of levy on property soars: Proof that stamp duty hike brings in less for Treasury: The Treasury is earning less from the sale of Britain’s poshest homes after the Chancellor’s shake-up of stamp duty rates last winter, according to analysis for The Mail on Sunday by a leading estate agent.
Wealth of 250 richest people with U.K. property assets soars 40% to £300 billion: The net worth of the world’s 250 richest people with property investments in the U.K. has jumped by 40% to more than £300 billion, the largest annual increase on record. The list, published by property publication Estates Gazette, features 60 billionaires, compared with just 10 in 2009. Amancio Ortega, the Spanish billionaire behind the Zara fashion chain, took the top spot with a fortune of £45.7 billion
Social housing builder Genesis blames rent cut as it slashes affordable homes: One of Britain’s biggest housing associations plans to cut the number of affordable homes it builds each year and double the amount of properties it will sell after George Osborne said he would cut social rents. Neil Hadden, the Chief Executive of Genesis Housing Association, which operates in London and the East of England, said it would cut the number of affordable homes it builds each year and those for social rent to about 100, while it will construct about 500 for shared ownership and 400 for market rent and sale
I have found a lot of folks do not read papers or even look at the news thereby missing out on crucial issues. Mind you quite happy to watch all the soaps under the sun. ' Shabby ' ad on tv at the moment giving people the impression they have nothing further to pay after getting their equity release funds. Woman on TV last night mugged out of £35k and even let the muggers walk her to the bank to withdraw the money. How many times do people need telling..!!!!
Mugged ... perhaps an evocative word, but perhaps also not an unfair one ... caveat emptor is probably better, although to be honest the average persons knowledge and experience of financial instruments and situations is such that its like taking candy off a baby. An elderly couple asked my advice, about 20 years ago when this scheme was popular in a past time, I didn't advise them one way or the other, but I made sure that they understood all the ins and outs of what they were doing and what their other options were. They chose not to go ahead with it -- I thought that that was the right decision for them. Mike
It's a pity a lot don't realise they are being mugged...!!!!!
Older homeowners withdrew a record total of £5m from their properties each day as an increasing number of retired people used their main asset as a source of income at a time of dismal savings rates. Equity release lending to homeowners over the age of 55, which allows people to use money drawn on their property without having to make monthly repayments or downsize, jumped by £68.3m to £452.6m in the three months between June and September, compared with the previous quarter
ShareCast News) - The number of mortgages approved by British banks in September fell to its lowest since May, data released on Monday showed. According to the latest figures published by the British Bankers' Association (BBA), said mortgage approvals for house purchases fell to a four-month low of 44,489 in September from 46,567, although they remained up 14% year-on-year. "Borrowing figures in the mortgage market remain strong as customers take advantage of record low interest rates. In particular, remortgaging remains high as savvy customers secure attractive deals ahead of a possible rate rise," said BBA chief economist Richard Woolhouse. Meanwhile, net credit card lending and lending for personal loans and overdrafts both declined from August to September, the report added. "The dip in mortgage approvals in September could possibly reflect recent modestly reduced expectations of a near-term rise in interest rates," said Howard Archer, chief UK and European economist at IHS Global Insight. "It is also possible that lower mortgage approvals in September is a sign that housing market activity is being constrained by a shortage of properties on the market."