Bullish Berkeley

[ReJoyce]

Berkely homes are sounding very happy with things right now:

http://www.google.com/hostednews/ukpress/article/ALeqM5j4REy6m57ofq-ftxcAI3pWbLQLZg?docId=N0417831291371171124A

"The group, which focuses on London and the South East, reported a 20% rise in reservations, driven by a surge in the number of sites on offer, stable prices and strong demand in the capital."

and

""he Surrey-based firm said it also believes house prices and transactions should remain stable in the coming year."

and

"Managing director Rob Perrins said: "Overall, this strong performance provides the board with confidence that Berkeley can outperform management's original expectations for the current year and is well placed for the following year."

Seems there is confidence there in fewer transactions and enough demand to prop things up. Comments?

Regards

J

Edited December 3, 2010 by ReJoyce

[Si1]

Berkeley saw revenues increase by 16% to £336.2 million in the six months to October 31,

based on data until end of October I would agree

[Meat Puppet]

Sounds to me like they are desperate for the liar loan to return.

http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/8178359/Berkeley-profits-up-as-it-pleads-for-looser-lending.html

"Any regulation of mortgages to further restrict the banks' ability to lend at sensible loan to value levels must be introduced sensitively," it said. "Irresponsible lending must be prevented but there should be sufficient flexibility to allow hard-working people who are able to meet their mortgage commitments, and who are in the very substantial majority, to acquire their own home, while providing a support mechanism for those who do fall into difficulty.

They must have the same PR firm as Gordon Brown.

[guitarman001]

I've been getting hammered with builder shares. Down down down they kept going then I sold and now up up up today!! Staying out until there's some certainty. Talk about catching a falling knife.

[blankster]

There's still a lot of people people doing well and they probably don't pay any attention to the housing market trends, only to what sort of house they can afford now.

[Bruce Banner]

Tony Pidgley (Sr) is a shrewd operator, if anyone can buck the market he can.