Member Info for terrace

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=GLE&ArticleCode=88qfj1pj&ArticleHeadline=Final_Results

https://www.bbc.co.uk/news/business-45516678

https://www.rics.org/globalassets/rics-website/media/knowledge/research/market-surveys/uk-residential-market-survey-august-2018.pdf

https://news.sky.com/story/london-loses-top-spot-in-global-financial-centre-rankings-11495765

You must be blushing after Docs post,but he is bang on.

Strictly....Your own blog indicates that you have convinced yourself of the wisdom of allocating the majority of your investment capital in CRST albeit at higher SPs than apply today.The reduction in that capital sum caused by the falling SP will be partly offset by dividends received during the year,but probably not entirely.So with the benefit of hindsight,it might have been wiser to leave it in cash,as recommended by Sain at the beginning of 2018.The musketeers,as you call them,made their capital allocation decisions some time ago,and now,to varying degrees,consider themselves to be lifetime fractional owners.That is not to say they think that those who allocate their capital elsewhere have made a wrong decision,you past investment record indicates an impressive return.You bravely publish your holdings on your blog and I hope you do not mind polite,friendly comment on that,no critism is intended,it is just interesting to understand how others minds work.Yes,I do like sometimes to provoke you to post here,your offerings add greatly to the value of this board.

http://www.proactiveinvestors.co.uk/companies/news/197089/crest-nicholson-s-dividend-under-threat-as-it-warns-on-margins-197089.html
time will tell and CRST go ex-div next week 20 September.

"9.2% is pretty tidy isn't it..?."...….don't really understand that,if the SP is falling more than the dividend paid,their is no yield is there?.There is no value to be placed on a dividend if the underlying stock falls in market value to a greater degree than the payout,or am I missing something?.

https://www.dailymail.co.uk/money/markets/article-6157389/Great-house-price-divide-Theyre-60-London-41-parts-UK.html

http://otp.investis.com/clients/uk/galliford/rns/regulatory-story.aspx?cid=793&newsid=1180176

Hi Rapper....What is it that you particularly like about TEF?.

Hi Nige Current P/BV of DBEV is 1.22,TW is 1.75.The BV is the NAV of the business which includes cash,land and part completed homes,nothing to do with going bust really.If you have a company with good earnings it is obviously worth less than a company with the same good earnings but much more in the way of net assets.The SPs of all homebuilders are historically low right now,but perhaps they are factoring in more difficult trading conditions now facing them rather than undervaluing them,there is a difference isn't there.What has happened in the past has way,way less influence on SPs than what is likely to happen to them in the future.The housing market is very much influenced by the confidence in which buyers see the likelihood of house prices going up( or at least not going down) and the security of there own livelyhoods.Homebuilders are facing a few years when buyers are very nervous about making big purchases,hence the amount of incentives being offered."Seriously undervalued".....maybe not.

Dividend.....Some investors use P/BV ( or SP/NAV) as a measure of comparative value.On that basis TW is very expensive compared to most of the other homebuilders.Valued on the same basis as BDEV today,the TW SP would be about 115p.

https://www.bbc.co.uk/news/business-45446148

http://www.dailymail.co.uk/property/article-6114105/Landlords-face-tax-rate-66-rental-profits.html

step forward IPRS

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=BVS&ArticleCode=dwkw5j3g&ArticleHeadline=Results_for_the_six_months_ended_30_June_2018

https://news.sky.com/story/housebuilder-barratt-posts-record-annual-profits-11490674

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=BKG&ArticleCode=xygbawgu&ArticleHeadline=Trading_Statement

https://news.sky.com/video/redrow-help-to-buy-should-be-permanent-11490452

Well on the one hand you can consider yourself a fractional owner of this business and stay with it as it evolves over the years.On the other hand you can actively trade (gamble on the SP) jumping in an out on the highs and lows,but it is unlikely that anyone on the planet has the skills to undertake that process with consistent success.Investment,like any other business enterprise,takes time to get to a successful conclusion.