Persimmon: Housebuilder posts uptick in profit amid housing market recovery March 11, 2025 Housebuilder Persimmon has reported an uptick in house completions and profit after two years of steep declines. The York-based company completed 10,664 homes in the year ended December 31, up seven per cent year on year. Revenue from new housing rose £2.86bn from £2.54bn while underlying profit before tax rose 10 per cent to £395.1m. [...]
Housebuilder Persimmon to post higher profit amid slow recovery in demand March 9, 2025 Housebuilder Persimmon is expected to report a rebound in profits next week after two years of steep declines, after the housing market made a slow recovery in 2024. The FTSE 100 company will post its financial results for last year on Tuesday In January, Persimmon said profit would come in towards the top end of [...]
What do falling interest rates mean for my finances? February 14, 2025 The Bank of England trimmed interest rates to 4.5 percent in February, the first of what could be multiple cuts this year aimed at kickstarting the UK’s weak economic growth. This raises questions about what loosening monetary policy could mean for savers’ finances. The BoE now expects GDP growth “to be notably weaker in the near [...]
Could the Bank of England push the UK into recession? January 23, 2025 As the Bank of England scrambles to unwind the disastrous effects of quantitative easing, the hidden costs of this policy are becoming clear, says Damian Pudner Quantitative easing (QE) has long been the Bank of England’s monetary policy nuclear option. Launched in 2009 to save a collapsing financial system, it was supercharged during the pandemic, [...]
Wall Street claws back week’s losses thanks to strong jobs report October 5, 2024 US stocks rallied on Friday after a surprisingly strong report on the US job market raised optimism about the economy. The S&P 500 climbed 0.9 per cent and got close to its all-time high set on Monday. The Dow Jones Industrial Average rose 341 points, or 0.8 per cent, to set its own record, while [...]
Barratt: Profit halves at housebuilder but firm optimistic after Redrow deal September 4, 2024 Housebuilder Barratt reported a halving in profit and drop in completions amid a challenging housing market, but has said it is optimistic about the future. Barratt said its total home completions in the year ended 30 June reached 14,004, down 18.6 per cent from 17,206 in 2023 but at the upper end of the company’s [...]
Completions to fall at Barratt amid flurry of updates from housebuilders September 1, 2024 Barratt Developments is expected to report a fall in home completions, but profits just ahead of previous expectations, amid a week of financial updates from UK housebuilders. The company, which is Britain’s biggest housebuilder, reports its annual results on Wednesday September 4, with updates from Vistry and Berkeley Group in the following days. Barratt said in July [...]
Rising London rents are ‘a pressure cooker ready to explode’ as home ownership ‘inching out of reach’ August 14, 2024 “A pressure cooker ready to explode” is how one expert has described the current situation in the UK housing market as data showed rents jumped close to 10 per cent in London over the past year. In fresh data released this morning it was revealed that average UK private rents increased by 8.6 per cent [...]
UK house prices surge to highest point since January to end months of stagnation after rate cut August 7, 2024 Renewed momentum in the property market has seen UK house prices rise at the highest rate since January, ending a three-month spell of stagnation. House prices increased by 0.8 per cent in July, with the average property now costing £291,268, up from £289,042 in June, according to the Halifax house price index. This surge sets [...]
Shares in Persimmon, Vistry and Barratt soar as Labour victory boosts market outlook July 5, 2024 Shares in property firms Persimmon, Vistry and Barratt have surged this morning as analysts label the Labour landslide victory a "positive" for house builders.