Friday, October 26, 2007

Looks as though the housebuilders shares are suffering

On London: Cracks appearing in the housing sector

“The recent fall in the Persimmon share price has prompted us to initiate a share buy-back. We remain confident of the growth opportunities available to us as a business notwithstanding the tougher macro-economic conditions currently in place.”

Posted by frank @ 08:53 PM (738 views)
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2 thoughts on “Looks as though the housebuilders shares are suffering

  • I love such statements as ‘the fundamentals remain strong, with demand continuing to exceed supply’, what demand ??, house prices falling means profits falling for UK house builders. I have been watching my local area on rightmove using a single postcode/half mile radius search for twelve months and over the last 10 days the number of properties on the market has shot up from 84 to 109, a 29.7 percent increase and one that I have not seen since I started noting the number of properties down in February.

    I think that the demand has packed its bags up and gone home to mum & dad.

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  • Wow. As indicators go, this is incredibly bearish. Housing stocks have peaked – Barratt is down by half in under a year. Clearly, no-one in the City thinks there is any money left in housing. And where the professionals lead…

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