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Not possible for Reeves to actually cap private rents without act of Parliament, as it adversely affects property and tenancy laws. Legal challenges will prevail without one. Although she could possibly dish out more Housing Benefit for those who are private renters and affect a cap.

Also, what about all those who have mortgages, are they to pay any increase in interest rates without UK Gov help. What does that do for Labour's electoral chances, and will only increase divisions in society. Huge own goal, me thinks. Maybe Reeves is actually working for foreign actors, and intentionally doing her best to break down UK society.

From memory, dividend paid 29th. Patience required at the mo, just accept this is an unstressed way to add at a good price. A “ bottom draw” stock. At some point in the near / midterm SP will respond positively. See what the new CFO has to say. Of course, he will wait until his share options plan is inked at these subdued prices, before too much positive news flow. Every chance of special share distribution, ether cash or buyback.

I suspect that the introduction of buy back's is a way of managing expectations going forward. Whilst they haven't reduced the dividend per se, they have taken a third of the final dividend for buy back. Also, only half of the £52m buy back will be cancelled, as those retained in Treasury will be used for management incentive plans etc..So they will be re issued at some point.

They will of course save the future dividend on the whole of those bought back (£52m) and held in Treasury, so reducing the cash out flow slightly going forward, which should help sustain the current dividend payment of around £250 - £300m if they continue to buy back as part of distribution policy . At these share prices that is > 10%, still very good. All in all, buying back at these prices is a good plan (IMHO) as they are trading below NAV, so buying £1 notes for 73 pence (current NAV of 117p per share, and trading at around 87p per share).

Wimps are well managed and have sound balance sheet (assuming the war is resolved quickly), and if UK GOV really wanted to stimulate growth building is a good way to circulate money through many parts of the economy. Not withstanding the social and aspirational benefits for youngsters and families wanting to get on in life and start to build wealth. I would suggest that they either incentivise first time buyers with tax relief or similar first time buyer schemes, or just reduce the inequitous SDLT tax which hits all aspects for house purchases.

Builders are politically sensitive investments. UK Gov loves to berate them for political gain, arbitrarily increase taxes on the industry, yet on the other hand they want them to invest and help them to achieve their 1.5 m housing target.

It’s likely they will interfere with any proposed mergers of large UK builders, given recent CMA review of similar. IMHO, best bet would be to be taken private if you are looking for a premium to be paid.

Taco trade comes to mind ... No signs that Citi have started the buy back since authorisation to proceed from 5th March.

I've just added some at these low prices, especially as the spread is tight. However, I am surprised at the weakness as trading update didn't have any surprises, unless their Auditors are quibbling about allocations, or something else re the expected arrival of new CFO, or the market has decided that the Middle East trauma might affect sales. We'll see. Although still no date for full accounts.

I'll stick my neck out and suggest Wimps might well recover today's losses, as long as no new exceptionals, and maintained dividend as per policy. Of course, the distribution might change as they might decide to split payout between shareholders and buy back. Having said that, the management are probably looking to present as a glass half full, and steady as she goes with accelerated site openings being the cherry on the cake. Especially as FTSE / US / Asia markets recovering strongly.

As for Vistry, I think the market got spooked with all the "fire sale" references to their open market business. This might suggest that their partner business is still not firing on all cylinders, and extra cash is being squeezed out of the open market business, which means margins will be reduced. Add this to the CEO / Chairman going, also suggests that major investors have given him the push. We'll see.

Quick calculation re dividend policy shows ( albeit end 2024 net assets figure), gives annual figure of £330m if 7.5% policy used giving 9.05p annually. Or if the minimum amount of £250m used to calculate gives 7p annually.

If we take 2025 first half dividend of 4.67p from 9.05p we should get 4.38p. Or if minimal amount used it would be 2.33p. That is the risk, although I can’t see net assets to have fallen to a level that triggers the “guaranteed “ level.

I’ll go for £4.38p.

Interesting uplift in Wimps today. If you looked the SP (and volumes) both rose strongly at 1330 hrs (US non farm payroll figures released with strong gains in jobs and unemployment figures down), millions of Wimps shares traded from that point on until close. ~ 46 million shares traded if you include the closing auction. Unusual to see a sustained volume like that for non sector related news flow. Still, see what gives tomorrow.

Starmer drama. Bond markets reacting to potential challenge to PM, could be another Liz Trust moment if Angie takes over. Increasing rates on bonds signal less chance of interest rate cuts as BoE struggles to protect Sterling from collapse. The Market responded by sell off of interest sensitive equities.

Well, I would pin todays slump firmly on the Construction PMI update. I would suggest this is just a Market reaction to the PMI which will be quickly forgotten. I'll stick my neck out and suggest that Wimps will recover most of today's early falls by the close of play, and even recover more in the final auction.

Yesterday's closing auction moved a fair few shares through at a lower price, which I would subscribe to the pending PMI report. Opportunistic trading by the well informed professionals.

Of course, IMHO.

Funnily enough, I was more intrigued by Point 72 shorts. Steve Cohen has been very successful in the past, notwithstanding his insider trading scandal. However, just because they declare they have a net short position, doesn't mean they are nescessarily bearish on Wimps. They may be hedging, or working in collaboration with others who are building a stake.

You remember last year that J P Morgan declared a series of equity swaps in Wimps, someone needs to be on the other side of those trades. Either way, they seem to be holding up OK given the potential to collapse if the Market had take a glass half full view, they have recovered twice recently from 8p plus falls promptly.

See what gives. I notice that US Treasury Secretary Bessent is out today trying to calm the Markets and downplay the latest dramas re Greenland. "... sorry we were only joking ...", we have now closed out shorts ...

Well, whilst I agree that the pro’s are making hay this week pushing the sector around. I do suspect that the three big builders have removed some uncertainty from the sector which may settle things down. Nothing too bad, just flat which has in turn lowered the sector risk profile allowing capital to return.

The Market can now take another view more focused on the next stage of the cycle, which could be interpreted as a glass half full going forward.

We’ll see if the builders can now form a base to build on, not withstanding geopolitical issues of course.

Re land bank size. Wimps have always had a large land bank compared to many of the other large builders, so allowing a little natural attrition to occur won't do them any harm. In fact the asset base will reduce, thereby reducing the dividend slightly in line with current policy. If we are to assume that we are at, or thereabouts, the bottom of the cycle then margins and free cash flow will increase helping to rebuild cash pile over coming years, ready for the next downward leg in the cycle. Wimps are a steady performer, and if you look at their returns to share holders over extended periods of time then they are a solid performer in any portfolio.

However, personally, I would prefer to receive less dividends as they are taxed at a higher rate than just selling a few shares if you want some income. (CGT much less than dividend tax, which in turn is less than income tax)

We have known for a while (earlier this year) that J P Morgan had quite a lot of Equity Swaps in Wimps, and of recent some interesting Hedge Funds have been poking their heads above the 0.5% threshold. However, whilst Wimps are probably a decent play to take private (highly cash generative, no debt, large valuable land bank in prime areas, undervalued on most metrics), as with all builders they is always a regulatory risk. A quick query from the Ingenuity AI Bot summaries the position, for those who are inclined / interested to research further:

JPMorgan Chase & Co. is currently disclosed as holding a sizeable, long position in Taylor Wimpey through both shares and derivatives, but the exact split between physical shares and each derivative type needs to be read from the latest TR‑1 notification document on the RNS feed.

Headline stake size.

• A recent UK disclosure notes JPMorgan’s total interest in Taylor Wimpey at about 6.6% of voting rights.

• Other ownership summaries list JPMorgan with a somewhat higher “group” exposure (around the mid‑single‑digit percentage of the company), reflecting different data vendors and dates, but all show JPMorgan as a major institutional holder.

The precise breakdown between:

• directly held voting shares, and

• financial instruments (e.g. cash‑settled equity swaps, CFDs, options or similar)
is reported in the TR‑1 “Standard form for notification of major holdings” for Taylor Wimpey where JPMorgan is named as the notifying party.

That TR‑1 form typically has separate tables for:

• “Position of previous notification” vs “Resulting situation on the date on which threshold was crossed or reached”

• “A: Voting rights attached to shares” and

• “B: Financial instruments” (showing number of underlying shares and percentage of voting rights for each derivative type).

How to see the exact positions.

• Go to the London Stock Exchange / RNS or any RNS mirror (Investis, company investor‑relations site etc.) and open the TR‑1 titled “Taylor Wimpey PLC – TR‑1: Notification of major holdings – JPMorgan Chase & Co.” dated mid‑May 2025.

• In that document you will see, line by line:

• Number of ordinary shares held by JPMorgan entities and their % of voting rights.

• For each derivative (e.g. “Financial instrument acco

For each derivative (e.g. “Financial instrument according to Art. 13(1)(a)”, “CFD”, “Swap”), the number of underlying Taylor Wimpey shares and % of voting rights those instruments represent.

Practical note

• These positions change frequently as JPMorgan trades or adjusts hedges, so any figure you see (both cash and derivatives) is as of the TR‑1 date only; for trading or risk work you would need to treat it as indicative rather than live.

If you want, share the text of the latest TR‑1 you are looking at and the exact derivative line items can be interpreted in plain Eng

Just picked up 1K for my pension, surprised at getting a price slightly below bid. Also, placed a slightly larger trade via SB. Hopefully year end update will be positive, as NICL do have history of not saying a great deal between results. Maybe the SP fall reflected budget worries re business relief for AIM listed, and triggered some of the specialist funds that focus on this area might have been offloading. Or, just general market apathy given flat interims and slightly lower margin achieved. Either way, we'll soon find out.

Noticed John Nicholls "gifted" most of his shares to his three children the day before the Budget, just shows that the this current Labour administration really do set hares running with general lack of experience when it comes to financial management. How much GDP was lost during the two month run up to the Budget, as individuals / businesses either sat on their hands, or rushed to try and protect their assets.

Also confirmation that the Nicholls family Trust still accounts for ~ 35% of shares, so they are not selling. Which of course means that any potential bid would need their approval. IMHO, I expect an announcement for a special shareholder distribution soon. If there's a cash element then I would expect it to be paid before tax year end, as the additional tax on dividend income due in new tax year will be meaningful for the family, even though the new CFO might not actually start until the new tax year.

IMHO, I can’t see Trump being POTUS this time next year. Either ill health or the Republicans will move him on prior to the mid term’s, or even worse if the Epstein files get released. Not sure Farage will have much clout with whoever takes control.

I'm with Strictly on this. Builders do not build out sites and then hope to sell, its strictly "build to order". They have learned their lesson from days gone by, when many almost went bust getting caught with too much stock on their books, which coincided with an economic slowdown.

This was confirmed by Wimps CEO (Jennie Daly) at the trading update, to paraphrase; builders cannot hope to reach UK Gov's target build rate unless there is some stimulus on the buy side. Without that stimulus builders will take a steady as you go approach, flatlining build rates for the foreseeable. Over to you Rachel :-)

Notwithstanding another "jam tomorrow" update, and presented from a glass half full perspective, there are a few few positive signals to take some comfort from.

Order book down a little, will give the opportunity to capture better pricing as recent data points suggest broadly resilient pricing going forward if / when consumer sentiment picks up. Increase in site opening will again allow the capture of more volume if / when sentiment returns. Dividend policy looks solid, similar returns to be expected over medium term. Wimps management are cautious, so at least there should be no "surprises" that will collapse the SP, unlike some other builders.

Persimmon update on Thursday, (who do tend to present from a glass half full perspective). Then Budget (potential incentives for home buyers), followed by December rate cut ( currently 73%), things could turn around ?

Re Shorting. Shorting is a necessary activity to help maintain two way trades in a healthy Market. Don’t forget, if someone is selling, someone is on the other end of that trade. Also, shorting may be a genuine hedge for traders who are also Long in the share, just neutralising volatility. Of course, it could be that they are betting that there will be no incentives in the budget for homebuyers, and delayed interest rate cuts which would likely put pressure on the builders share price.

However, the underlying performance of housing sales and pricing is holding up better than most commentators (Scriblers) are prepared to admit. Just a matter of time before builders recover on the up cycle. IMHO, good time to build a position for solid market beating returns.