Persimmon and Barratt to sign Gove’s cladding contract as others stall for time January 30, 2023 A handful of developers plan to sign the government contract to fix buildings affected by cladding and other fire risks in the coming weeks. Levelling up secretary Michael Gove gave developers a six-week deadline to commit to more than £2bn of repairs to fix the issues in buildings taller than 11 metres. This comes on [...]
Faith in UK housing market to be restored in new year with M&A on the horizon December 5, 2022 Faith in the UK’s housing market is expected to be slightly restored in the new year, as mortgage rates slow their climb and cancellation rates cool. A rise in mergers and acquisitions (M&A) within the sector may also be on the horizon, according to research at brokerage Jefferies. In a note today, researchers said they [...]
Housebuilder Bellway banks record revenue – but inflation eats into profits October 18, 2022 Bellway has recorded yet another record revenue amidst the UK’s housing market boom, but rising inflation has significantly eaten into profits. The FTSE housebuilder’s revenue grew 13.3 per cent to £3.53bn in the year to 31 July, up from £3.12bn a year prior. However, Bellway’s pre-tax profit has plunged more than a third over the [...]
Housebuilder Bellway boasts record £3.5bn revenue as UK property prices soar August 9, 2022 Bellway, one of Britain’s largest housebuilders, has boasted a record annual housing revenue of £3.5bn, bosses announced today. The figure has grown by more than £1bn since 2020, and some £400m since last year. Despite raw material and labour cost inflation, Bellway’s housing completions jumped by 10.5 per cent in the year to 31 July, [...]
Housebuilders tank on stock market with investors ‘nervous’ about mortgage rates June 20, 2022 Housebuilders lead the London Stock Exchange’s top fallers today, after the latest house price data cautioned the tightening of purse strings amid a cost of living crisis. Barratt Developments and Berkeley Group led the descent, falling a little over four per cent each. While Persimmon dove 3.7 per cent, Ashtead slipped 2.8 per cent and [...]
Bellway and Crest Nicholson shares soar as record property prices boost housebuilders June 14, 2022 Shares in Bellway and Crest Nicholson have risen this afternoon, following upbeat trading updates which signal that record house prices are filling the pockets of housebuilders. Developer Bellway has seen its sales reservations continue to climb past their pandemic heights, as demand shows little sign of slowing. The London-listed real estate firm, whose shares rose [...]
Cladding bill nears £2bn mark as Bellway, Vistry and Countryside Partnership pledge to fix homes April 7, 2022 Housebuilders’ pledges to repairing unsafe cladding has neared a bill of £2bn as Bellway pledged £485m to fix homes on Thursday. According to analysis from AJ Bell, the total bill now stands at £1.8bn, with FTSE 100 developer Berkeley yet to declare how much it will provide. The department for levelling up, housing and communities [...]
Bellway forecasts average selling price will top £305k in hiked guidance March 29, 2022 Property developer Bellway has said it expects its average selling price to be more than £305,000, up on previous guidance. In half-year results, revenue rose 3.5 per cent to £1,780m, up slightly on 2021’s figure of £1,720m. The housing developer said the forward visibility provided by the order book meant that the average selling price [...]
Bellway revenue climbs to £1.78bn amid record numbers of new homes February 8, 2022 Housebuilder Bellway is on track for revenue of £1.78bn in the first half of the year driven by a record number of home completions.
Cladding suppliers shares tumble after Gove threat on remediation costs January 24, 2022 Building material manufacturers and property developers’ shares plummet on Monday morning as the government toughens up on firms unwilling to pay to fix unsafe homes. Housing secretary Michael Gove threatened a UK trading ban on manufacturers of combustible cladding and insulation in a letter to the Construction Products Association. In the letter, Gove said more [...]