Best of the Brokers for 17 December 2013 December 16, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com BELLWAY UBS kept its “buy” rating on the housebuilder and increased its target from 1,675p to 1,760p. The broker expects the firm to post a six per cent rise in full-year profits at £205m on 15 per cent volume growth. UBS also thinks [...]
London Report: Chancellor and Chote set to face MPs’ questions December 8, 2013 CHANCELLOR George Osborne will be back in the spotlight on Thursday as he is quizzed by the Treasury Select Committee about the contents of his Autumn Statement. But Osborne is the not the only one to face a grilling from the committee this week, as Office for Budget Responsibility (OBR) head Robert Chote is likely [...]
Housebuilders take a knock as BoE ends Funding for Lending for mortgages November 28, 2013 Shares in the housebuilding sector have taken a tumble across the board this morning on the news that the Bank of England is ending its Funding for Lending scheme for mortgage providers. At pixel time, Barratt Homes has plummeted 9.6 per cent. Persimmon, the UK's largest home builder, is down over six per cent. Taylor [...]
London house prices to keep rising due to chronic undersupply October 28, 2013 The London housing market will continue to experience significant undersupply in the coming years and will retain its robust stance, according to research by Deutsche Bank. The bank expects UK listed house builders with scale and history in the region to see strong returns in their London divisions. It also expects new entrants such as [...]
Gold-plated rules stop Londoners getting the homes they most want October 16, 2013 HOUSE prices in London are soaring, with the Office for National Statistics identifying a 8.7 per cent rise in the past year alone. But on top of this, Londoners are not getting the homes they most want – terraced houses and flats. According to research we’ve just published, London’s gold-plating of national housing standards is [...]
UK housing soars back to pre-financial crash prices October 15, 2013 THE PRICE of an average house in the UK steamed past its previous nominal peak during August, reaching record levels again, according to Office for National Statistics (ONS) figures revealed yesterday. The announcement came as Martin Weale, a member of the Bank of England’s rate-setting monetary policy committee (MPC), voiced his concern over the recent [...]
Bellway expects strong demand as profits jump October 15, 2013 BRITISH housebuilder Bellway said easing mortgage lending and improved consumer confidence helped it deliver a 34 per cent rise in full year profit, and said the current year had started strongly. The Newcastle-based company said yesterday pre-tax profit for the year to 31 July rose to £140.9m, from £105.3m, on a 10.6 per cent increase [...]
Gold-plated rules stop Londoners getting the homes they most want October 15, 2013 HOUSE prices in London are soaring, with the Office for National Statistics identifying a 8.7 per cent rise in the past year alone. But on top of this, Londoners are not getting the homes they most want – terraced houses and flats. According to research we’ve just published, London’s gold-plating of national housing standards is [...]
London Report: UK employment figures to show lift in economy October 13, 2013 UK employment figures out this week look set to give further weight to signs of Britain’s growing economy. The September numbers, to be released on Wednesday along with unemployment statistics, are predicted to be up on last month. “Strong demand has been met by surging employment in recent months, which is lowering unemployment. [...]
Savills and Bellway boosted by stronger UK property market August 8, 2013 PROPERTY consultancy Savills said yesterday it enjoyed a 40 per cent rise in first half profits boosted by strong property markets in the UK and Asia. Underlying profit before tax grew to £26m in the six months through June from £19.7m in the same period last year, on revenue up 13 per cent to £399m. [...]