Member Info for terrace

http://www.urbanandcivic.com/

https://www.theguardian.com/business/2017/aug/29/house-prices-dip-sign-cooling-uk-economy

http://www.dailymail.co.uk/money/mortgageshome/article-4825858/House-prices-hit-15-TIMES-average-income.html

Sain....you appear to be increasingly worried about prospects for sales in the coming year or two.Perhaps it will all boil down to sensible pricing because it probably is the time not to try and be too ambitious.The prices achieved at the time of initial launch were obviously acceptable to TEF,so perhaps further launches should bear that in mind.Doesnt look good if released units sit on the books for too long.As you often remind us....a bird in the hand....

Don't think anyone understood the " full ramifications " when asked to vote in the referendum.The governor of the BOE and the chancellor say we face many uncertainties.If it goes ahead,we should have a second referendum once the final terms have been negotiated.Hard to believe any benefit will accrue to UK citizens if we leave.

A growing band of influential commentators are saying Brexit wont happen.Do you think that is possible?.

http://www.propertywire.com/news/uk/tax-change-pushing-landlords-holiday-short-term-lets-especially-london/

BVS 11.35 1.36 BDEV 11.18 2.37 BKG 7.95 2.37 BWY 9.8 2.12 CRST 8.59 1.89 GLE 14.23 2.14 PSN 12.81 2.93 RDW 10.88 2.19 TEF 10.67 1.45 TW 10.84 2.21

why do you think that long term home builder PBV and P/E ratios are so low.

http://www.propertywire.com/news/uk/improved-mortgage-lending-recorded-parts-uk-second-quarter-2017/

http://www.homesandproperty.co.uk/property-news/buying/house-prices-in-england-and-wales-slow-for-summer-but-emerging-crossrail-hotspots-in-east-london-a112986.html

Some of us don't follow Strictly's system of switching between home builders because we are "close" to whats going on at TEF and where they are going.Because transparency is less at BWY and RDW,we don't feel able to abandon TEF,even temporarily, in search of a better return,that would be stepping outside our circle of competency.As you know,price is what you pay and value is what you get and it is possible for us to establish value with a much better accuracy than can be done elsewhere.We all know that there is a substantial margin of safety between value and price which,to date, has been a pretty permanent feature.Guidance for the next few years suggests that we are about to embark on a substantial upward SP journey.When that will start is not knowable,but it will,and soon.Good luck to those who dance in an out of stocks (albeit on a well informed basis),but it is not for everyone,especially very long term participants.Its all about risk assessment and sensible capital allocation really,but isn't that the case with every business decision.

http://investors.morningstar.com/ownership/shareholders-major.html?t=TEF.GB

http://www.galliardhomes.com/latest-offers/offer/august-offer-on-three-bedroom-apartments-in-londons-zone-2

http://www.bbc.co.uk/news/business-41009299

http://www.propertywire.com/news/uk/million-opened-flagship-home-buying-savings-product-uk/

Sain....If a home builder can make a ROCE of over 20%,why would they want to aquire a similar business at a PE of 10 or over?.It would not be in our interest long term,for TEF to be taken over for a one off gain of a pound a share or so.

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=PSN&ArticleCode=2f64ajlx&ArticleHeadline=Half_Year_Results

http://www.telegraph.co.uk/personal-banking/mortgages/now-buy-to-let-investors-can-release-cash-properties/

http://www.cluttons.com/sites/default/files/documents/london-residential-market-outlook-autumn-2017-finalv2.pdf