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Jason

Bovis Homes - Profits Down 20%

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http://www.tiscali.co.uk/news/newswire.php...y_template.html

LONDON (Reuters) - Housebuilder Bovis Homes Group reported a 20-percent fall in its annual profit on Monday, hit by a tough housing market, but said it entered 2006 with a strong order book and house prices are seen edging up.

Retuers: http://today.reuters.co.uk/investing/finan...IS-UPDATE-1.XML

Edited by Jason

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http://www.tiscali.co.uk/news/newswire.php...y_template.html

LONDON (Reuters) - Housebuilder Bovis Homes Group reported a 20-percent fall in its annual profit on Monday, hit by a tough housing market, but said it entered 2006 with a strong order book and house prices are seen edging up.

Retuers: http://today.reuters.co.uk/investing/finan...IS-UPDATE-1.XML

Bovis Homes said the ave house price has fallen from £197,900 in 2004

to £175,500 in 2005. ;)

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It is difficult for new home builders to spin the data as they have a legal responsibility to stockholders to be truthful in their prospectus. We can see that the figures that have been released by Rightmove etc. are accordingly unreflective of market realities.

A 20% fall in profits is a good start to the 2nd year of the correction. The top of the market is now behind us and we have more good news to come as the HPC progresses.

:)

As with the Dotcom era the fall in profits has been welcomed by the Stock Market with a huge leap in share prices this morning:

Bovis Homes Group (London Stock Exchange S.E.T.S.)

854.50 GBp +25.00 (3.01%)

Edited by Realistbear

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I've had a brochure through the door from Bryant Homes. They're offering 5% deposit paid, stamp duty paid and move in for £99... But the cheapest range of houses starts at three times what I can afford!!!

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Bovis Homes ave house price £197,900 in 2004

ave house price in 2005 £175,500 down £22,400

RedRow homes ave house price £176,700 in 2004

ave house price in 2005 £163,100 down £13,500

Haliwide house prices up up up up up :blink::blink:

I think in terms of house prices comparability, this is a great statistic.

As they are most probably comparing Like 4 Like... Unlike every other form of statistic of house prices.

As in house makers probably only produce 10 different styles of houses... or whatever. in 2004 house x got £y in 2005 house x got £w. its that simple... soon they will only be getting £p the equivalent of Pennies!... lol

in reality... House prices are dropping like a bomb already, the ones that arn't will do soon, or will be pulled off the market!

Great post IMO!

Thanks

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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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