Coronavirus: UK construction sector grinds to a halt in worst month on record May 6, 2020 UK construction sector activity juddered to a halt in April, survey data has shown, as coronavirus lockdown measures pushed the industry to its worst month on record. The IHS Markit/Cips construction purchasing managers’ index (PMI), a gauge of the health of the sector, plunged to an all-time low of 8.2 in April from 39.3 in [...]
Barratt Developments to restart construction work this month May 1, 2020 Housebuilder Barratt Developments will restart work on construction sites this month after temporarily closing operations during the coronavirus lockdown. Work to implement social distancing measures will begin on 11 May, after which Barratt will restart building work across 180 of its construction sites, representing 50 per cent of its sites. The developer this morning said [...]
Coronavirus: Barratt Developments furloughs 85 per cent of staff April 16, 2020 Housebuilder Barratt Developments today announced it has temporarily laid off 85 per cent of its staff through the government coronavirus job retention scheme. Furloughed employees will receive full pay until at least the end of next month, the company said this morning. The developer also said both the executive and non-executive teams had agreed to [...]
Coronavirus dividend cuts produce £4.4bn hit to investor portfolios March 27, 2020 With more UK firms announcing coronavirus-fuelled dividend cuts this week, the total loss of investor income so far this year is now £4.4bn. The pace of dividend cuts is accelerating as coronavirus wreaks havoc on world economies. In March 116 companies have suspended their dividends totalling £4.2bn, according to investment fund AJ Bell. That compares [...]
Zoopla: Coronavirus could send UK house prices plunging March 26, 2020 UK house prices could plunge dramatically as the coronavirus outbreak causes demand to dry up, Zoopla has warned. The spread of Covid-19 is already having a big effect on the market, causing a 40 per cent drop in demand for housing in the seven days to 22 March, according to data from property website Zoopla. [...]
Coronavirus: Barratt Developments scraps dividend March 25, 2020 Housebuilder Barratt Developments has scrapped its £100m payout to shareholders over the business uncertainty caused by coronavirus. Barratt, which has closed all of its sites, said it expects the coronavirus outbreak to have a “significant impact” on construction output and reservations and has cancelled all previous financial guidance. The company said that due to the [...]
New builds: Homes on the market in London this week, from flats for West Ham fans to a Bromley mansion March 13, 2020 Hanworth Apartments, Hounslow From £339,000 for a one-bed Jet setters will want to take a look at Hanworth Apartments, the new phase of homes at Barratt London’s High Street Quarter in Hounslow. Its 38 one, two and three-bed apartments are just ten minutes from Heathrow Airport, with prices starting at £339,000 for a one-bed. A [...]
Housebuilders boosted by HSBC stock upgrade February 19, 2020 Shares in housebuilding firms jumped today after HSBC upgraded its view on the stocks, saying the decisive general election result “unleashed pent-up demand” in activity. Berkeley’s share price rose 3.2 per cent to an all-time high this morning after HSBC upgraded the stock from “hold” to “buy”. The bank now has “buy” ratings on all [...]
Housebuilder Barratt’s half-year profit boosted by strong sales February 5, 2020 Barratt Developments has reported a rise in pre-tax profit for the first-half as the UK’s biggest housebuilder sold more homes at lower prices. Barratt, which sold its highest number of homes in 12 years in the six months to 31 December, said this morning that profit before tax rose 3.7 per cent to £423m. “We [...]
Housebuilders lead FTSE 100 bounce as coronavirus fears abate January 22, 2020 The FTSE 100 rebounded this morning following its worst performance in two weeks on Tuesday, with housebuilders leading the blue chip index after Berkeley raised its planned shareholder returns. The index gained 0.10 per cent in morning trading, led by Berkley. The company climbed as much as 5.40 per cent to hit a record high [...]