RE: Positive outlook27 Feb 2025 14:38
Afternoon WW,
Firstly, thanks for replying. Yes, I’ve read they’ve approved 12k plots. But does that mean they’ve actually purchased them, or just approved them, as they state? The only actual purchase I can find in 2024 was the 27m sale back in July I think it was from Harworth.
I do find ‘Wimps’ accounts so much more ‘cloaked’, on this subject, than say PSN or BWY who just say (eg PSN) in 2024 we purchased 10500 plots for £230m. The importance between the two is one is purchased and one approved. The startegic land bank is not approved. So by moving them over to the short term land bank, they become approved.
It still makes me ask if they’ve just been ‘realised’ from existing stock to some extent due to the existing stock levels reducing though? Maybe I’m over blowing this but when you talk about 13% of the actual selling price down to the land costs, over 10.5k houses that’s some big numbers. Wouldn’t it be nice and quite simple to include some actual figures in their releases, as other HB’s do, to their actual land purchases, plots bought and for what cost.
If I’m reading things correctly?