Vistry, Barratt and Berkley: Housebuilders to report as investors nervous on rates, mortgages and rule changes September 1, 2023 After their shares soared on the Government’s decision to relax environmental rules, three housebuilders are preparing to update shareholders next week. Vistry, Barratt Developments and Berkeley Group will all update shareholders during the week, as nervous investors will be looking for more indications of what is happening in the mortgage market. Vistry has already said [...]
Housebuilders’ shares rise on news UK will ditch planning rules protecting rivers August 29, 2023 Housebuilders’ shares rose today on the news that Michael Gove is set to scrap water pollution rules linked to new developments in a bid to ease the country’s housing crisis. Barratt Developments and Taylor Wimpey gained 2.9 per cent and 2.6 per cent respectively, while Persimmon was the second biggest riser on the blue-chip index [...]
The Notebook: Victoria Scholar on falling house prices, global travel’s acceleration and Netflix’s Sackler drama August 22, 2023 Today, Victoria Scholar, head of investment at Interactive Investor, takes the City A.M. notebook pen The only thing being built is negative momentum Rising interest rates, high inflation and the cost of living crisis are starting to take a serious toll on the UK housing market. Just this week, data from Rightmove pointed to a [...]
Gove planning shake-up: ‘We need housing today, not tomorrow’ July 24, 2023 Michael Gove will loosen planning laws to allow vacant shops to be converted into homes as part of his latest efforts to tackle the UK’s housing crisis. On Monday the minister for housing and levelling up revealed a slew of planning reforms as well as a further commitment to building over 1m new homes across [...]
FTSE 100 close: Dovish Bank of England interest rate bets extend London gains July 20, 2023 London’s FTSE 100 extended gains today as traders continued to cheer signs that UK inflation may have finally turned a corner. The capital’s premier index hopped 0.76 per cent to 7,646.05 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, was broadly unchanged at 19,311.73 [...]
UK house price growth slows to 1.9 per cent in May July 19, 2023 The average price of a UK house cost £286,000 in May, according to new government data, with the figure being £6,0000 up on 12 months ago – but £7,000 below its September peak. Average UK house prices increased by 1.9 per cent in the 12 months to May 2023, down from a revised 3.2 per [...]
FTSE 100 close: London markets rise strongly after June inflation comes in lower than expected July 19, 2023 London markets breathed a sigh of relief on Wednesday after inflation finally came in lower than expected. The bluechip FTSE 100 closed 1.8 per cent higher at 7,588.20 while the midcap FTSE 250 index, which is more aligned with the health of the domestic economy, ended 3.8 per cent higher at 19,322.52. Investors were buoyed [...]
Nearly half of tenants struggle to pay rent with millions now facing ‘financial vulnerability’ July 14, 2023 Nearly half of tenants are struggling to pay their rent, with millions now spending more of their disposable income on renting costs than homeowners. As the cost of living crisis has led many landlords to up the costs of rent, some 21 per cent of tenants report spending a higher proportion of their disposable income [...]
Barratt Developments warns a ‘deterioration’ in demand for homes due to rate pain has hit hard July 13, 2023 Barratt Developments has warned a “deterioration” in demand for homes has hit housebuilding hard, as a tumultuous mortgage market continues to pile on misery, with the group’s share price down over four per cent when markers opened this morning. The residential building company said net private reservation rate – the number of people putting their [...]
Barratt Developments share price in focus following Bank of England rate rise July 10, 2023 The market will turn its focus to Barratt Developments’ trading update next Thursday to see how soaring mortgage rates and a tumultuous period for the property sector is impacting UK house building companies. The housebuilder’s shares have fallen by around a tenth over the past 12 months and more than half from their pre-pandemic levels, [...]