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Stockmarket Calls End Of The Spring Rally For Housing

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Last week we had Nationwide calling the top of the market (see signature), this week its city analysts:

Housebuilders suffer as end of rally is called

Housebuilders suffer as end of rally is called

Simon Bowers

Wednesday April 12, 2006

The Guardian

Enough is enough, said UBS analysts, referring to Britain's housebuilders. The bank has, until now, been a strong cheerleader for the sector, but it has downgraded Wilson Bowden - which remains its sector pick - from a buy recommendation to neutral, noting shares have gained 35% in the last 12 months, and 8% in the last quarter. There is no change to UBS's forecasts or price target, but even given the bank's bullish view of the housing market, Wilson Bowden is fully priced.

They are not the first to call the top of the housebuilder rally in recent times: others include Numis, Merrill Lynch, CA Cheuvreux, Evolution, Seymour Pierce and Teather & Greenwood. Yesterday, the market appeared to heed the words of UBS. Wilson Bowden dropped 46p at £15.10, Persimmon was down 42p at £12.99, Bovis Homes lost 34.5p at 885.5p. Bellway fell 55p at £11.84, and Redrow shed 16p at 547p....

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Gee I think they mean the shares.

How many of you bears predicted they'd go up 35% last year?


35% of us :lol:

Seriously though I got my share club to sell it's property shares and buy into debt and bankruptcy management companies, we've made way more than 35% so stick that in your pipe and smoke it Leia worrier!

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