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Profits Plunge 20% At Mccarthy & Stone Builders

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http://www.in2perspective.com/nr/2006/05/h...ts-drop-20-.jsp

Housebuilder profits drop 20%

By Laurie Osborne, Editor

Published 2nd May 2006, (a Tuesday) at 10:00AM

McCarthy & Stone, the retirement home builder, unveiled a 20% drop in first-half profits last week, blaming a rise in building costs and land prices.
Mr Lovelock added that although
affordability
in the housing market was still stretched,
McCarthy & Stone's longer-term prospects were good due to the current sharp increases in single-person households in age bracket of 65 and above.

Affordability may start to become the trigger with IR rising and confidence eroding. Can't buy what you can't afford (at least not in the post-Miracle Economy world :lol: ).

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http://www.in2perspective.com/nr/2006/05/h...ts-drop-20-.jsp

Housebuilder profits drop 20%

By Laurie Osborne, Editor

Published 2nd May 2006, (a Tuesday) at 10:00AM

McCarthy & Stone, the retirement home builder, unveiled a 20% drop in first-half profits last week, blaming a rise in building costs and land prices.
Mr Lovelock added that although
affordability
in the housing market was still stretched,
McCarthy & Stone's longer-term prospects were good due to the current sharp increases in single-person households in age bracket of 65 and above.

Affordability may start to become the trigger with IR rising and confidence eroding. Can't buy what you can't afford (at least not in the post-Miracle Economy world :lol: ).

That reminds me of the strangest sight I`ve seen in relation to property recently. Nice town by us, Heswall. Mc & Stone are selling their last few retirement 2 bed apts. there for around 200K. Walk a bit further down the road, approx. 20 yards, to a new exclusive development of 2 bed apts for 400K...how does that work then Eh, twice the price for the same size, on the same road? Only takes a clever FTB to lie about their age to buy into Mc & Stone at half the price of the other development... :D

Edited by Converted Lurker

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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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