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Realistbear

Wimpey Pour Cold Water On Hopes For A New Housing Boom

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http://business.scotsman.com/index.cfm?id=1117672006

Housebuilder Wimpey plays down 'boom"

HOUSEBUILDER George Wimpey yesterday
poured cold water on hopes for a new housing boom
despite trumping market forecasts with a 25 per cent leap in first-half profits.
The group said sales and margins rose sharply in a "solid and stable" UK housing market, but warned that higher
prices in some UK areas had become tougher to achieve.
Chief executive Peter Redfern said that, while affordability had become less of an issue around London in recent months, there were some "marginal" concerns in northern parts of England. Housing trends are generally said to move from the more populous south-east northwards into Scotland.
"It's not causing it to creak and stop," Redfern said. "What you're seeing is prices rising at between 3 and 4 percent, rather than the 9-10 percent you did before."
Last updated: 01-Aug-06 00:58 BST

Corporations are less likely to spin and tell porkies as false prospectuses can attract the attention of lawyers.

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"It's not causing it to creak and stop," Redfern said. "What you're seeing is prices rising at between 3 and 4 percent, rather than the 9-10 percent you did before."

Last updated: 01-Aug-06 00:58 BST[/indent]

Corporations are less likely to spin and tell porkies as false prospectuses can attract the attention of lawyers.

I agree with this. Prices rising at 3-4% per annum is quite sustainable, going forward.

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I agree with this. Prices rising at 3-4% per annum is quite sustainable, going forward.

Not when it starts from the highest prices ever.

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Well I'm with RB and Wimpey on this one. No more boom. Wage-inflation linked rises in the foreseeable future.

I never noticed RB cancel the crash. You're on your own I think.

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I never noticed RB cancel the crash. You're on your own I think.

If house prices were meant to be this expensive, they would always have been this expensive.

simple as that..

afordability at 1991 levels..

last boom and.. 11% IR's

ouch..

and bad debt charges making up how much of the less responsible lenders profit surge?? Northern Rock?

Ouch..

Its horrible..

If the IMF get together and say the economy cannot support it.. can't support the debt.. can't support the prices..

Not every house has been sold at these prices.. and as more and more are.. then the crunch time..

Still..

At least prices are dropping.. not everywhere.. but in a lot of places..

Just people have to realise.

The economy cannot support the prices.

FACT.

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If house prices were meant to be this expensive, they would always have been this expensive.

What?? So there would be no ups or downs in value? What a strange statement!

CO: "Well I'm with RB and Wimpey on this one. No more boom. Wage-inflation linked rises in the foreseeable future." - I don't think RB was supporting you point CO! Please don't be like everyone else on this site and "Follow The Bear", as the beer commercial told us to do! There are only one or two posters like yourself that bother to post anything other than end-of-the-world diatribe, keep up the good work. Sorry about the "back slapping" sentiment.

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If house prices were meant to be this expensive, they would always have been this expensive.

If God had meant us to fly he would have given us wings :ph34r:

To borrow an over-used quote from the bears: just because there hasn't been a soft-landing yet, doesn't mean there'll never be one!

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Well I'm with RB and Wimpey on this one. No more boom. Wage-inflation linked rises in the foreseeable future.

So a market that has been cyclical for centuries has just stopped at the top?

Try studying the history of economic booms...

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I never noticed RB cancel the crash. You're on your own I think.

I know what he means. In markets you expect things to be 'priced in' i.e. can Casual Obeserver explain why the market was so wrong from say 1960 - 1998 (excluding the booms). If the market is correctly priced now why was it so out 5 years ago. Of course I can understand if it purely down to structural reasons like mass immigration but this doesn't really explain why 'Up North' has seen such a massive boom.

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Anyone who has lived in a George Wimpey development knows all about having cold water poured all over them. They have a shocking reputation for poor quality new builds with dodgy plumbing and regular episodes of flooding.

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I never noticed RB cancel the crash. You're on your own I think.

No I don't think so. Just read the Wimpey report he decided to post. I agree with it entirely. Presumably, so did he.

Or did his white socks get all mixed up in the spin-cycle, and come out pink?

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  • 302 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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