Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Hmm hoping there results are already reflected in the sp because to me they don't read that well.
If you cant get through the "pay wall", then google ... "A housebuilder whose dividends aren’t on the line" , and you should get the article
Supportive commentary from Investors Chronicle.
https://www.investorschronicle.co.uk/ideas/2023/07/27/a-housebuilder-whose-dividends-aren-t-on-the-line/
The US housing market was confirmed yesterday as flourishing again. Resilient sector.
Buy the dips
(Hodor style - Bydps - new phrase coined)
Wouldn’t be surprised to see help to buy back on the table soon ,It’s a vote winner and the Tories are panicking.
Interim results due 2 Aug 23. Rgds S
I think your being very optimistic on the special Dividend, I will be more than happy with a interim dividend of around 4p in the current market conditions.
When will the ex dividend be announced? should be soon ? ... hopefully there will be a special this year too 🤞
Good morning All
Let’s hope this carries on and the recovery continues!
All the best Ben
My aunt Meg has a flutter on the stock markets from time to time. The other week when TW was about to touch £ 1 she said "That's ridiculously cheap, I'd get a few, they'll go up in a couple of months". So I got £5000 worth at 1.02. I see they're around £1.15 now. Now my aunt doesn't have an MBA, she knows nothing about Loan to asset ratios or cyclical charts like the clever fellows in the City with their Oxford degrees and striped suits. But I reckon she's done ok. Not for the first time either.
Housing sector shares last 5 days have just rocketed despite the doom and gloom. Great buys for this shop bought at the bottom last week.
115 to buy
Good rise today and to think I was going to sell last week at a 10% loss.
Wimps CEO (Jennie Daly) appointed to join Rishi's Business Advisory Council ... give em hell Jennie.
https://www.egi.co.uk/news/taylor-wimpey-ceo-joins-pms-business-advisory-council/
IMHO, I get the feel that this is likely to be the bottom for builders, the usual siren voices and talking heads predicted collapsing prices for most of this year, yet that's not happened and is unlikely to happen.
I expect that the Chancellor will offer some incentive for first time buyers, in order to get that aspect of the market moving again (not to mention buying young people's votes). As long as I can remember UK GOV has always had one incentive, or another, in order to help people buy homes, regardless of which stripe they represent.
Seems core inflation is flattening / falling in (see what tomorrows figures bring), and Gilts are steadying with rates falling back again after the last couple of months wobble. 2 YR now likely to edge below 5% and trend that way. £ vs $ and EUR strengthening, which helps reduce inflation generally, and helps all businesses which import (timber, heat pumps, boilers, kitchen utilities etc), so good for reducing build inflation.
Wimps early redundancy programme (Oxford Business unit in January), and now Redrow culling jobs will no doubt add pressure to UK GOV to get its act together. Rumours are that Gove is backtracking re the " nutrient" issue which has blocked many developments getting planning, and will now be kicked into the long grass pending further review of this divisive policy.
I also expect that the current builders reporting season will be well received by the market, notwithstanding forecast reduction in units (adding more pressure to UK GOV). Builders are much more resilient that they used to be, no debts, flexible build programmes and better executive management. UK GOV just needs to let them get on and build ...
Selling overdone on a 12 month view, I would expect at some point the rates will peak and then builder-bingo back on the table.
Not really a surprise given the mortgage rates. Housebuilders in US still doing well and at these levels I'd lead a bid on TW. :)
Redrow, which has seen profits slip in recent months, told some of its staff in a virtual conference call that their jobs were at risk
LBC has been passed emails and documents confirming, from the firm's chief executive, that they plan to close the Crawley and Thames Valley offices. The Crawley office is the company's base for Southern England.
The memo, sent to all staff, and leaked to LBC, said the current economic climate was having a negative impact on the homebuilding industry, and that as a result, the company was having to limit its investment in land.
The firm is one of the largest housebuilders in the UK employing more than 2,000 people across 14 sites. One employee told LBC at least 100 people were at risk of losing their jobs.
In a statement, confirming the proposal, Redrow said its current developments were unaffected, and that only a small number of staff would be made redundant.
Can't seem to post link. Visit LBC website for report.
Over 100 jobs at risk as one of the UK's largest housebuilding companies plans to close two sites and cut office staff, reports LBC
https://www.lbc.co.uk/news/redrow-over-100-jobs-risk-one-of-uks-largest-housebuilding-companies/
Over 100 jobs at risk as one of the UK's largest housebuilding companies plans to close two sites and cut office staff, reports LBC
https://www.lbc.co.uk/news/redrow-over-100-jobs-risk-one-of-uks-largest-housebuilding-companies/
19th July UK inflation numbers 7.00 am
VTY trading update 20th July.
https://www.vistrygroup.co.uk/investor-centre/financial-calendar
gla
Hi Bighammer
The thing is it will be detrimental to the industry and the quality will go down!
As you know when work slows up that’s the time the contractors can get rid of the dead wood and the tradesmen are able to carry on as normal!
But now with this the contractors will put their best and trusted people on the customer care, so they don’t get fined.
So then schedule’s fall behind and the HB’s will force them to get more men and what’s left out there ( you got it the ones no one wants).
It also means they will think twice about apprentices.
Slippery slope.
I also let my boss know I am thinking about getting out.
But hey ho
I also wonder where the NHBC are going with this.
All the best Ben
Morning Ben, you are so right . I have moved over to that side now got an offer too good to turn down . Tke pro snaggers have digested NHBC tolerances to the mm and walking round with laser levels checking everything along with drones overhead. Contractors are taking the hit for now but how long before they start passing on some or all of the cost to the tradesman , when and if that happens say goodbye to the housing industry as we know it.
Crack on better to get in now tbh as you said resistance at £1 so why do you think .85 or .90 will come
An interesting thing has happened to US house builders - they have risen a lot despite the stagnation in the property market across the pond. Why? Several reasons.
One is that people have 30 year fixed mortgages at very low rates. With the rates much higher now that doesn't affect current home owners, however it means that they can't move and are stuck in their houses. As a result, if you want to buy anything over there you have to go for a new build, as there's nothing else on the market. This has benefited house-builders.
Another reason is that the price of lumber has collapsed and that's a major cost for US house building.
Both obviously not that relevant for the UK market, as the max fixed mortgages here are 10 years and most folks have 2 or 5 year fixed. However, I can see UK house-builders getting a small boost from this. No one on a 5 year fixed is going to move in the next 2, 3, 4 years. That's 45% of the market so a lot less properties on a market that was already lacking supply!
That said, "building material supplies suffer shortages in key products such as bricks, blocks and cement, causing year-on-year rises" of 1.5% this month I think:
https://www.homebuilding.co.uk/news/construction-materials-shortage
So unfortunately, no boost there for UK house-builders compared to the US. However, I think the reason is that bricks, etc. have 6 months price delay. They are very dependent on the price of energy:
https://think.ing.com/articles/concrete-prices-wont-go-down-before-spring-2023-despite-the-lower-energy-prices/
So I do expect those materials prices to fall over the next 6 months, as energy prices have descreased quite a bit, and then will see an improvement on this front as well for UK house-builders.