19th July UK inflation numbers 7.00 am
VTY trading update 20th July.
https://www.vistrygroup.co.uk/investor-centre/financial-calendar
gla
19th July UK inflation numbers 7 am
VTY trading update 20th July.
https://www.vistrygroup.co.uk/investor-centre/financial-calendar
gla
RIO.........trading update 18th July
Sharecast more positive ....lol
(Sharecast News) - Barratt Developments reported a fall in net private reservations and house completions in a full-year trading update on Thursday, although it was set to meet adjusted profit expectations.
The FTSE 100 housebuilder said net private reservations per active outlet per week decreased to 0.55 for the 12 months ended 30 June, compared to 0.81 in the prior year.
It did note increased reservations in the private rental sector and to registered providers of social housing, which contributed 0.1 to the net private reservations figure.
Despite the decrease, Barratt Developments said it maintained a solid level of customer demand.
Total home completions for the 2023 financial year reached 17,206, slightly lower than 2022's figure of 17,908.
That included 828 completions from joint ventures, marking a slight increase from the 746 joint venture completions in the prior year.
Barratt said it expected adjusted profit before tax to align with current market expectations for the full year.
The company said its balance sheet remained robust, with net cash at the year-end of around £1.07bn, down from the £1.14bn it recorded on 30 June last year.
It noted that its net cash figure was still after it completed a £200m share buyback, and land spend totalling about £820m during the year.
Looking ahead, Barratt Developments reported a solid order book for the 2024 period.
As at 30 June, its total forward sales, including joint ventures, stood at 8,995 homes, valued at £2.22bn.
That did represent a decrease from the prior year's figure of 13,579 homes valued at £3.62bn, but the firm said it expected its order book to normalise, reflecting more typical levels for next year's completions.
"During a year of economic and political uncertainty, we have delivered a strong operational and financial performance, while maintaining our industry-leading quality, customer service and sustainability credentials," said chief executive officer David Thomas.
"Whilst the trading backdrop has become more challenging in recent months, with many of our customers facing significant cost of living pressures, we have responded decisively - increasing our reservations into the private rental sector, using incentives for customers in a disciplined way, and flexing our build activity, land-buying and operating costs to reflect market conditions.
"As a result, we enter the new financial year in a robust financial position with a solid forward order book and we are ready to respond to any further changes in the housing market."
Barratt Developments said it would report its full-year results for the 12 months ended 30 June on 6 September
(Reuters) - Britain's largest homebuilder Barratt Developments said on Thursday it will build fewer homes this fiscal year as mounting worries over mortgage affordability and sticky inflation drive homebuyers away.
The FTSE 100-listed firm forecast home-build volumes for the 2024 fiscal year ending June 30 to be in a range of 13,250 to 14,250 units, down from 17,206 homes constructed in the year-ago period.
gla
Highest price 19.68p
Lowest price 19.42p
Weighted volume 19.56p
My own average 2095p
gla
Stevebt.......... there's more to the article than older properties selling at reduced prices.
It's about buying power of a mortgage as interest rates have risen & IF they rise again, some buyers buying power will be reduced.
PSN does rely on new buyers buying power!
Sunbeams.......so everyone who buys a new build doesn't have a house to sell!
Any price reduction of an older property will have some effect on the new build market.
Https://uk.finance.yahoo.com/news/buyers-discounts-house-prices-higher-mortgage-costs-230159890.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAAeL0CNZ2NoAxnzy5kkaVj3G5TPvHVUZR-k_IAZIpuv5LkbH35aWcIWrE4Btx0HtQaP9oih3PA3w2HFcqwXPeEdZhF74yuSLEaGXoavNsqmQitOxGO4vJYiJyKuiE_rXS3ybxwR3NZ7PVapl5B43aUYjPQUzqWQWQyRIpx_IhXOh
Worth a read, posted on BWY
Currently holding TW @ average 109p
ATB
Https://uk.finance.yahoo.com/news/buyers-discounts-house-prices-higher-mortgage-costs-230159890.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAAeL0CNZ2NoAxnzy5kkaVj3G5TPvHVUZR-k_IAZIpuv5LkbH35aWcIWrE4Btx0HtQaP9oih3PA3w2HFcqwXPeEdZhF74yuSLEaGXoavNsqmQitOxGO4vJYiJyKuiE_rXS3ybxwR3NZ7PVapl5B43aUYjPQUzqWQWQyRIpx_IhXOh
Sellers are being forced to sell at a discount to secure a deal as higher mortgage costs leave only a few able to buy a house in the current market.
Four in 10 (42%) sellers are accepting offers over 5% below the asking price — the highest number in five years, according to Zoopla’s House Price Index.
Meanwhile, 15% are accepting offers 10% lower than asking, with the average discount standing at 3.8%.
We could be piling properties high and selling them cheap in the second half of the year, as mortgage misery throws houses into the bargain bucket. Two in five sellers have had to accept an offer that’s at least 5% below the asking price to secure a sale, while an alarming 15% have had to accept a 10% discount — or more. And if rates stay higher for longer, this could just be the start of it,” Sarah Coles, Yahoo Finance UK columnist and head of personal finance at Hargreaves Lansdown, said.
However, surging mortgage rates have also left fewer buyers in the market. Zoopla’s data shows 14% fewer buyers in the market over the last four weeks compared to a year ago.
Mortgage rates tipping above 5% have delivered a further 10-20% hit to the buying power of those who are purchasing with a mortgage, which make up 70% of sales, according to Zoopla.
Mortgage rates moving from 4% to 5% results in an 11% reduction in buying power. However, this increases to 20% with mortgage rates at 6%, up from 4%.
ATB
Hi Guys,
Please add me @ 475p
ATB
" they know they have destroyed your son’s and your daughter’s right to buy their own home."
Carltt, you do make a robust case.........our eldest son & his girlfriend have recently completed their first home buy.
They're both based in London with excellent careers.
Stamp Duty 32k plus legal and to boot a 35-year mortgage with parents on either side helping.
Valuations are based on room rental postcode..... Two bedrooms times 'X' per room + lounge, ha who needs a lounge, its worth a tenant sleeping on the side = fat valuation or fat rental.
Youngsters have a vision & a desire, to own a few meters of real estate.
The dire and shocking situation caused by room rental valuations!!!
gla.
Https://www.bhp.com/investors/shareholder-information/dividends
Went ex-div 9th March 90 usd cents 74.37p Payment 30th March
Operations review 20th July
Full Year results 22nd August
Final ex-div 31st Aug (amount to be declared 22nd Aug)
Payment 21st Sept 2023
https://www.dividendmax.com/australia/australian-stock-exchange/mining/bhp-group-limited/dividends
gl