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Conquistador

Persimmon reports strong growth

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http://www.bbc.co.uk/news/business-38516009

"Housebuilder Persimmon boosted the London market after the company reported strong sales growth. The company said private sales in the second half of the year were up 15% from a year earlier. For the year as a whole, it completed the sale of 15,171 homes, a rise of 4%, while revenues climbed 8% to £3.14bn."

Surprised to read about 15% increase in private sales year-on-year. HTB working its magic?

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12 minutes ago, 999house said:

Sales growth is irrelevant. We are interested in sold price per unit and days to sell.

Average sales price per home £206,700 in 2016 up from £199,127 in 2015.

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3 minutes ago, Conquistador said:

Average sales price per home £206,700 in 2016 up from £199,127 in 2015.

Would probably need to see square foot.Or type v type, area v area. They could have sold more3 beds than 2 beds YoY or sold more houses in an expensive area. Either way its ******** and inconclusive.

 

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9 hours ago, thewig said:

because whoever you "vote" for you'll get more of the same, now shut the f*ck up, take your fluoride and watch your tellievision, pleb

regards, the establishment

 

OK. Ta. 

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9 hours ago, EnglishinWales said:

I don't know what to believe anymore.

I have that feeling.  This whole thing since around 2002  makes no sense, unless of course u believe in conspiracies, some sort of enslavement of the masses plan, for our own good of course.

 

I don't believe this tho, probably just a bunch of self serving idiots with the ability to take everything from the general populus, doing so without  any idea how it affects everybody.

God only knows what's coming next

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9 hours ago, Mapatasy said:

Nice find!

Here's the recording... gets interesting at around 2.25:

http://www.brand-newhomes.co.uk/persimmon-meeting-recording.mp3

Imagine hearing that after you bought a Persimmons home.  Persimmons laughing at you for wasting your money on a shit house.  It's not enough that house prices are 4 times over valued.  It's not enough that new builds are shit quality.  It's not enough that new builds offer you less and less space.  Not enough indignity.  The final nail is in hearing the builder think their own builds are shit, and that they can't believe anyone buys them.  This is some next-level masochism if anyone hears that recording and then decides to buy a Persimmons home. 

If this was the 80s or 90s, that recording (if verified) would be a "Ratner moment".  These days, it's par for the course.

Edited by canbuywontbuy

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38 minutes ago, canbuywontbuy said:

Imagine hearing that after you bought a Persimmons home. 

I'd imagine a lot of the buyers now are BTLers and really dont give a f**k so long as they look rich on paper.

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1 hour ago, canbuywontbuy said:

Persimmons laughing at you for wasting your money on a shit house.  

Isn't that true for anyone that sells a house in 2016? Do you really think you are going to hand over 700k+ for a three bed semi in zone 5 to a retired bus driver and at some point he isn't going to be lieing on the beach thinking: dumb f*ck. 

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2 hours ago, Conquistador said:

I knew someone who used to design Persimmon homes, and he was pretty negative about the quality. The Wikipedia page on Persimmon is pretty damning.

I work in this sector, and it is well known to stay clear of any jobs with them, they have a huge staff turnover due to the way it's run. The comments that guy has been recorded saying are pretty much true speaking to other former employees of the company. Shows you the scale of the issue with a poor quality they are producing but still making huge profits, people just don't research what they are actually buying still.

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1 hour ago, hamish1985 said:

I work in this sector, and it is well known to stay clear of any jobs with them, they have a huge staff turnover due to the way it's run. The comments that guy has been recorded saying are pretty much true speaking to other former employees of the company. Shows you the scale of the issue with a poor quality they are producing but still making huge profits, people just don't research what they are actually buying still.

The average bloke is pressured by his missus to buy, who in turn is pressured by her Facebook envy of her peer group.  People are irrational and want to be be seen as "keeping up" with their peers.  Ripe pickings for crappy new builds. 

Edited by canbuywontbuy

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7 hours ago, canbuywontbuy said:

Imagine hearing that after you bought a Persimmons home.  Persimmons laughing at you for wasting your money on a shit house.  It's not enough that house prices are 4 times over valued.  It's not enough that new builds are shit quality.  It's not enough that new builds offer you less and less space.  Not enough indignity.  The final nail is in hearing the builder think their own builds are shit, and that they can't believe anyone buys them.  This is some next-level masochism if anyone hears that recording and then decides to buy a Persimmons home. 

 

This - so much.

While prices are what they are, I'm not going to complain about them...but space? OH.MY.******ING.GOD!!!!

I can't believe how many "new builds" don't even have a 20 sqm living room...and those that do, only have ~20 sqm because it's "open plan" (read: the kitchen is in the living room)

 

 

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So without help-to-buy state subsidy the company would be a basket case. So the question that comes to mind is who are the majority shareholders and what is their relationship to the government.

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4 minutes ago, ChewingGrass said:

So without help-to-buy state subsidy the company would be a basket case. So the question that comes to mind is who are the majority shareholders and what is their relationship to the government.

Indeed, Private Eye must have done a column or two on this.

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1 hour ago, Conquistador said:

Just heard that 45% of Persimmon's sales are through 'Help to Buy'. Wow.

What a shitshow this is. Idiots everywhere.  Idiot builders. Idiot buyers.  Idiot government.

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