Persimmon says it’s too early to judge what the effect of the EU referendum on housebuilding will be July 5, 2016 Ahead of its half year results, Persimmon said that trading through the first half of the year has been strong, but drew attention to uncertainty relating to the EU referendum. The figures Persimmon said that its legal completion volumes were increased by six per cent to 7,238 new homes for the six months to the 30 June. The [...]
Are leading investors wrong to criticise house-builder Persimmon for its £600m executive bonus pot? June 14, 2016 Rachel Cunliffe, deputy editor of CapX, says Yes. Persimmon’s aim was simple: incentivise executives to develop land in the most profitable way. The bonus scheme it established rewarded managers if they hit ambitious targets over a 10-year period – targets they have outperformed dramatically, building more homes more efficiently. Investors should be thrilled. The share price [...]
FTSE-listed housebuilder share prices have tumbled after McCarthy & Stone’s gloomy Brexit outlook September 2, 2016 Just when we thought things were beginning to look up, housebuilder shares uniformly drooped this morning, after retirement home builder McCarthy & Stone presented a gloomy outlook about the impact of Brexit. Persimmon was the biggest faller among the FTSE 100-listed builders, dropping 2.9 per cent to 1,815p in mid-morning trading. That was followed by Berkeley [...]
Mortgage approvals fell to 18-month low in the first full month since the Brexit vote August 30, 2016 Mortgage approvals hit an 18-month low last month, according to figures from the Bank of England. In the first full month after the Brexit vote, approvals fell to 60,912 – down from 64,152 approvals in June. The number of approvals has been falling since March, when the stamp duty hike on second homes came into effect. There [...]
Property companies’ share prices climb again after a difficult three days July 7, 2016 After a difficult three days of trading for companies in the property market, things are looking slightly sunnier this morning. The increases today follow the news that house prices rose in June – but analysts are predicting house prices will fall in the second half of this year. Housebuilders Persimmon's share price climbed 6.9 per cent, Berkeley [...]
Property companies’ share prices knocked again as Brexit hangover clings on July 6, 2016 It's been a rough week for property companies – and this morning has been no different. The biggest firms' share prices have fallen off the wrong side of the bed again today as the big Brexit-hangover continues to plague the industry. Read more: Aviva and M&G become latest property funds to suspend trading as investors flee Housebuilders At [...]
UK mortgage approvals fell to their lowest level in 18 months in July – meaning house prices could fall by five per cent next year August 24, 2016 The number of mortgages approved fell to their lowest level in 18 months in July, suggesting house prices could fall considerably by the end of 2017, the British Bankers' Association (BBA) has said. Figures by the BBA showed 37,622 mortgages were approved in July, down from 39,763 in June and 41,620 in May. It's an impressive slide since [...]
Bovis Homes Group reports strong revenue and profit growth but states it is too early to tell impact of EU referendum August 15, 2016 Bovis Homes Group struck a bullish tone in their half year results, with growth across a range of metrics. The catch? It's too early to tell the impact of the EU referendum. Its share price fell by more than two per cent on the news. The figures Bovis Homes Group posted revenue of £412.8m for the [...]
Estate agents, housebuilders and other property shares slide on downbeat house price forecasts July 22, 2016 Property companies were the FTSE's biggest fallers this morning, after a raft of downbeat forecasts surrounding the UK's housing market. Countrywide, the UK's largest estate agent, was one the biggest faller on the FTSE 250 in early trading, with its shares falling 7.2 per cent to 233.7p. However, property portal Zoopla and Crest Nicholson were also both [...]
Persimmon narrowly dodges revolt over new director Nigel Mills and executive pay, as shares slump over sales slowdown April 14, 2016 Persimmon narrowly avoided a revolt today over the appointment of Nigel Mills to the board after shareholders raised concerns over his links to the housebuilder's financial advisers. More than 47 per cent of shareholders voted against appointing Mills as an non-executive director at the company's annual general meeting held at York race course – with 107m votes in favour [...]