Wednesday, Aug 05, 2009
Reality sinks in...
Telegraph.co.uk: Housing starts will not recover for five years, warns Taylor Wimpey
The boss of Taylor Wimpey has warned that it could be five years before housebuilding returns to pre-recession levels after the company was forced to write down the value of its land bank in the UK by £445m, despite increasing optimism about the state of the market.
Pete Redfern, the chief executive, said the UK housing market is likely to see a "slow, gradual recovery" and that the recent rises in house price indices, underpinned by low supply, "do not yet constitute a convincing trend".
Posted by hotfoot @ 06:26 PM (161 views) Add Comment
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