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Guest The_Oldie

Geo. Wimpey 20% Fall In Profits

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"although UK

volumes were down, prices on legal completions in the UK were unchanged"

"Gross margins in that order book are, however, lower

than those achieved on legal completions in the first half, as the impact of

sales incentives is greater. Operating margins will be positively impacted by

better overhead absorption"

So with an average 5% discount via incentives that will be a 5% cut in net prices then YOY :D

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It's raining here today, otherwise I'd go out and take some photos of the stunning 'new' GW development (that's 'block of flats' to you and me) around the corner from here, which was completed over a year ago and yet still has 'for sale, for less' posters in the window of practically every flat in the block.

Personally, I find it strange they haven't sold, since £325K for a two-bed flat is a bargain... Maybe they would have done better if they'd offered a free pig to every buyer.

Or if they'd chosen a site that wasn't hemmed in by the cr*ppy Arriva bus depot (good transport links), a run-down 60s office block belonging to BT with a huge and threatening-looking mast perched on top of it (good mobile reception), the old Kent and Sussex Hospital (handy to be next door to A&E in case you have a heart-attack when your mortgage repayments hit the roof, and for when you get cancer from living near the phone mast), and across the road from a building site. What could be finer (except possibly New Orleans at the moment)?

Interestingly, however, if you go to the GW site for this development, they have the audacity to have a 'news flash' which claims that only one of these apartments hasn't sold. Bliars!! :o:o

http://www.georgewimpey.co.uk/GW/templates...+'Kent'

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Guest Bart of Darkness
Personally, I find it strange they haven't sold, since £325K for a two-bed flat is a bargain...

Quite right. I'd pop down myself and have a look round but I'm scared of being trampled to death in a frenzied rush of FTB's.

:lol:

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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