Bottom Line: There’s still plenty of time to build on this bull run July 7, 2014 CRITICS of the government’s Help-to-Buy programme, which is often accused of doping up already-too-high house prices, sometimes refer to it as “Help-to-Sell”. The scheme, which either backs up or even contributes to mortgages, is certainly helping housebuilders to sell a few more properties and thus bolster their earnings. Such fortunes are reflected clearly in the [...]
Bovis sees property sales boom on back of Help-to-Buy housing scheme July 8, 2014 A boom in Britain’s property market and the government’s Help-to-Buy scheme have helped to boost house buying and have led Bovis Homes to report its best-ever first half sales. The Kent-based housebuilder announced yesterday that it had completed 1,487 sales in the six months to the end of June, a massive 54 per cent increase on the [...]
London Report: FTSE flat as Barclays fall is countered by housebuilder climbs June 26, 2014 BARCLAYS Bank’s shares plummeted 6.5 per cent yesterday as the FTSE index ended flat despite a rally in housebuilders on Bank of England comments. The FTSE 100 closed on 6,735.12 up 0.02 per cent or 1.5 points. The market was also underpinned by the London Stock Exchange Group, which surged 6.1 per cent after unveiling [...]
St. Modwen Properties’ half-yearly report shows effects of recovery July 1, 2014 St. Modwen Properties released its half-yearly results today, revealing a 32 per cent rise in pre-tax profits and an increase in shareholder equity. The results come on the back of the rising housing market and burgeoning commercial developments. Pre-tax profit for the six months to 31 May had increased to £51.3m from £38.8m for the corresponding [...]
Persimmon forward sales rocket 38pc April 16, 2014 Housebuilder Persimmon has seen its total forward sales revenue climb 35 per cent higher compared to what it was in 2013. The company also has 7,200 new homes sold forward into the private sale market for 2014, 38 per cent ahead of the same point in 2013. The average selling price climbed three per cent [...]
London Report: Housebuilders drag on FTSE 100 after near-record highs June 23, 2014 BRITAIN’S top equity index fell yesterday for the first time in a week as declines in housebuilding shares weighed on the market, which had been approaching record highs. The blue-chip FTSE 100 index, which had risen for the last four sessions, ended down by 0.4 per cent, or 24.64 points, at 6,800.56 points – some [...]
St Modwen cheers to increasing optimism in residental market June 2, 2014 ST MODWEN, the developer behind the £2bn revamp of New Covent Garden market, has said that first half profits are expected to be “significantly ahead” of last year thanks to rising values of its assets and returning confidence in the property market. The company, which submitted the planning application for the redevelopment of Britain’s biggest [...]
Persimmon says house demand is up across UK April 16, 2014 HOUSEBUILDER Persimmon said yesterday that demand for new houses continued to strengthen, helped by government intervention to help first-time buyers. Persimmon, which builds homes across the country apart from central London, said its new financial year had started well, with private sale rates per site up 25 per cent in the first 15 weeks of [...]
Taylor Wimpey shares jump as it lifts forecasts May 13, 2014 SHARES in Taylor Wimpey jumped over seven per cent yesterday after the housebuilder raised its profit targets on the back of a resurgence in the housing market. Housebuilders have enjoyed a dramatic recovery over the past year thanks to the government’s Help to Buy scheme and improving consumer confidence, which has helped fuel demand for [...]
London Report: FTSE falls on BT pension fears and builders June 16, 2014 BRITAIN’S top share index slipped yesterday as concerns about a large increase in its pension deficit hit BT Group, while housebuilders extended their recent sell-off on prospects of a UK rate hike. BT fell 2.4 per cent, one of the biggest drags on the FTSE 100. Traders cited a Sunday Times report which said that [...]