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Housebuilders Highlight British Property Gloom

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Two of Britain's biggest housebuilders reported falling profits and it would have been much worse if gains from America had not offset some of the losses. The writing is on the wall because the US housing bubble shows signs of being close to bursting.

Housebuilders highlight British property gloom

Two of Britain's biggest housebuilders underscored the uncertainty gripping the property market today as they reported falling profits at the half-year stage and looked to the housing boom in America for their revenue growth.

George Wimpey reported an 18 per cent slump in interim profits to £130.7 million before tax, with the fall being driven by a 32 per cent drop in operating profits at its housebuilding division in the UK.

Operating profits there fell to £106.7 million.

At the same time, Taylor Woodrow highlighted the "challenging" conditions in the British housing market as it disclosed that group pre-tax profits had dipped by 3 per cent to £170.4 million.

Both housebuilders highlighted the diversity of their international businesses and said that growth in America - which has been experiencing a surge in property prices - had helped offset some of the British losses....................

However, with 45 per cent of its profits now coming from outside the UK, Taylor Woodrow highlighted the continuing weakness of the British market, where the average selling price and operating margins both fell.

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George Wimpey reported an 18 per cent slump in interim profits to £130.7 million before tax, with the fall being driven by a 32 per cent drop in operating profits at its housebuilding division in the UK

didn't the recently departed Dr B inform us how important the performance of these big players would be in the lead up to any serious downturn ?

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didn't the recently departed Dr B inform us how important the performance of these big players would be in the lead up to any serious downturn ?

YUP,he sure did.

if the bottom is falling out of the shares now,then its GAME OVER for houses in about 6 months.(by game over I mean we will be WELL entrenched in negative numbers by then)

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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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