Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Strong demand pushes home sales closer to asking prices: Discounts on property sales have fallen to a five-year low, as high demand for homes is boosting prices again, according to new data from property website Zoopla.
Dorfman in £28 million move: The Founder of Travelex has sold his mansion in northwest London for £28 million, writes Oliver Shah.
Home lending reaches £16 billion: Housing market activity is showing signs of picking up, with mortgage lending increasing by 2% month-on-month in May, banks and building societies have reported
First sign of election bounce in mortgages: Britain’s housing market is stepping up a gear as mortgage lending is showing signs of a post-election recovery, while homeowners around the country believe the value of their properties rose this month.
UK retail sales ex-fuel advanced more than expected in May On an annual basis, retail sales ex-fuel in the UK rose 4.40% in May, higher than market expectations for an advance of 4.30%. In the previous month, retail sales ex-fuel had registered a revised rise of 4.60%.
Oxford Street property deals set to reach £1 billion by end of this year: The revamp of the eastern end of Oxford Street and the imminent arrival of Crossrail has sparked a flurry of property deals this year, with investors flocking to get a slice of London’s busiest shopping street.
Surging Berkeley Group shares build up Founder Tony Pidgley’s fortune as profits jump by 42%: Shares in housebuilder Berkeley Group jumped more than 10% – adding some £20 million to Founder Tony Pidgley’s fortune
U.K. wage growth hits four-year high of 2.7% in April: Wage growth in Britain hit a four-year high of 2.7% in April, according to official figures, delivering a welcome increase to household finances following the fall in inflation this year.
Berkeley profits jump 42%: A sharp rise in profits reported by London housebuilder Berkeley Group is no flash in the pan. It is the result of a big bet made on the property market in the South East five years ago, and the shares jumped more than 8% because there is every sign there is plenty more to come. Tony Pidgeley, Chairman of Berkeley Group, is respected as one of the best readers of the property market in the game. He reduced land holdings ahead of the property slump in the late 80s, and more recently called the top of the housing bubble just before the crash in 2007. The company is currently reaping the rewards of another astute move when Berkeley cut dividends and used all its spare cash to buy land cheaply between 2009 and 2013. So, if investors buy the shares at the £34.81 price at which they are currently trading, they can expect to receive 523p in dividends during the next three years, or an income yield of some 15%. With the profits seen to be rising so quickly, investors sent the shares up 274p, or 8.7%, on the belief that the dividend payout could exceed the current target. Mr Pidgeley has a well-earned reputation, not just for timing the market, but also for understanding that the good times don’t go on forever and accepting a good price now is better than holding on for the illusory perfect trade. Looking at Berkeley’s share price, it seems to price in the current high level of profits, which have been achieved on record house prices, and much of the return of capital already. Questor recommended buying Berkeley shares at 801p back in 2010. Berkeley Group at £34.81+323p. Questor Says “Hold”.
Berkeley Group warns against U.K. vote to leave EU: Berkeley Group has joined the chorus of companies warning against the potential pitfalls of a Brexit, with the U.K. housebuilder’s Chairman calling for “the U.K.’s continued participation in the EU in order to maintain London’s pre-eminence as a world city
UK average earnings excluding bonus rose more than expected in the February-April 2015 period On an annual basis, in the February-April 2015 period, the average earnings excluding bonus recorded a rise of 2.70% in the UK, higher than market expectations for a rise of 2.50%. In the January-March 2015 period, the average earnings excluding bonus had risen by a revised 2.30%.
Berkeley: the same but different Selling flashy apartments in London is good business
I bought these 1st May at £25.05. I thought they looked great value, did not expect this rise. I am a very happy man!
Hi everyone, Our Expert blogger and former Barclay's Stockbrokers Director David Harbage has a new blog post on house-builders, Including Berkeley Group. You can read it here: www.bit.ly/DavidHarbageBlog-Housebuilders Hope you enjoy it! Stuart
Got some myself on the strength of the Investors Chronicle article. Made a nice profit, and another 90p divi per share to come. Happy days.
Bought 100 of these on Monday at 3165 and thought I'd made a booboo when I looked at the charts. I better return in 3 days than 3 years in Standard Chartered!
Bi gutted I had to sell this stock yesterday to help my recovery on the epic fall regarding SOU, Sound Oil yesterday. Great to see the companies performing well, it's definitely a company I look forward to jumping back aboard.
Thank you Investors Chronicle for putting me onto this little goldmine. Great result.
The advantage of talking to oneself is that you receive wise and agreeable replies. That said, todays BKG statement looks alright to me.
Ever get the feeling that your talking to yourself!
The Board has declared a further interim dividend of 90 pence per share (£122.9 million), payable on 17 September 2015 to shareholders on the register on 14 August 2015. This will complete the first milestone of paying 434 pence per share by 30 September 2015. The Board considers that the Group is well positioned to meet the remaining milestones of 433 pence by September 2018 and 433 pence by September 2021. In closing, I would like to express my thanks to my colleagues in Berkeley for their dedication and hard work in delivering this strong performance. I firmly believe that Berkeley has the right plan in place to deliver long-term sustainable success, a strategy which can adapt to any changes in the market to protect the business in what is a cyclical market, and continue to deliver value to shareholders and the community alike." Tony Pidgley CBE Chairman
OUTLOOK · Further interim dividend of 90 pence per share payable in September 2015 to complete first milestone payment of 434 pence per share · Cash due over the next three years on forward sales of £2,959 million (April 2014: £2,274 million) · Land holdings** comprise 37,473plots (April 2014: 35,963 plots) and future anticipated gross margin of £5,272 million (April 2014: £4,514 million) · Normal market conditions with good underlying demand and outlook supported by a clear General Election result. * 'Adjusted' statistics exclude £99.8 million of revenue and £85.1 million of profit from the sale of the ground rent asset portfolio. ** Land bank statistics have been rebased to incorporate the previously disclosed land holdings and future pipeline. Commenting on the results, Chairman Tony Pidgley said: "I am pleased to announce pre-tax profits for the Berkeley Group of £539.7 million for the year ended 30 April 2015. This result underlines the benefit of operating the right strategy consistently through the cycle. By maintaining our financial discipline Berkeley can apply its unique operating model to develop sites which are complex and where others may perceive that the risk is too great, and in doing so, we unlock land for new homes that would not otherwise come forward. Berkeley accepts this additional operational risk which is managed carefully and intensively to create sustainable added value returns. Berkeley is delivering some 10% of all new homes in London and 10% of the capital's affordable homes across our 74 sites. This creates economic value of £1.4 billion and sustains some 12,000 jobs. In addition, we remain committed to increase site-based apprenticeships and training to help address the skills shortage which our industry faces. We are acutely aware of the importance to our society of all forms of tenure for new housing and welcome the vision of Government, the Greater London Authority and local councils to increase the number of new homes built. For Berkeley it is equally important to ensure that we are market leaders in terms of the quality of the places and homes we create. We welcome the stability in Central Government following the General Election and the commitment to increase housing supply, but political uncertainty remains with the London Mayoral Election and referendum on Britain's relationship with Europe on the horizon. Berkeley is a supporter of the UK remaining in Europe as this is the best way for London to remain a world city. There is no doubt, however, that for business to thrive, we must not be bound by over-regulation, be this from our own government or from Europe. The Board has declared a further interim dividend of 90 pence per share (£122.9 million), payable on 17 September 2015 to shareholders on the register on 14 August 2015. Th
Cargiant unveils £5 billion plans for Old Oak Common regeneration: Cargiant unveiled ambitions plans to turn its 46-acre site at Old Oak Common into a new £5 billion district with 9,000 homes, further dashing QPR’s hopes of building a stadium on the land.
House prices rise faster outside of London as overseas investors look for better value: House prices across Britain have outperformed London for the first time since 2006, as property investors look to scoop up homes outside of the capital.
Deflation didn’t last long... after just one month, prices are growing: The U.K.’s first dip into deflation in 55 years ended after a single month in May as rising petrol prices and air fares helped push the cost of living back into positive territory, official figures showed.