Saturday, June 26, 2010

A Londoner bullish voice

House prices will withstand tough budget cuts and tax rises, says Berkeley Group

"Berkeley is aiming to grow its earnings per share and land bank by 10pc over the next year. Its land bank stands at 28,099 plots after the acquisition of 2,200 plots across 20 new sites in areas such as Belgravia, Battersea, and Wimbledon over the previous year. Berkeley's visitor numbers and cancellation rates suffered a "blip" in the run-up to the election but this trend has since been "reversed". Rob Perrins, managing director, said there was a "will to buy", even if mortgage availability remains tight." The comments (so far) are somewhat different in tone.

Posted by quiet guy @ 12:17 AM (1480 views)
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7 thoughts on “A Londoner bullish voice

  • “The company recorded annual revenues of £615.3m, a 12.4pc decline on the previous year, and pre-tax profits were down 8.4pc at £110.3m. This came despite the number of completions rising from 1,501 to 2,201, and was because of [b]a fall in the average selling price from £395,000 to £263,00[/b]”

    Yeah, prices are doing great..

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  • “will to buy”

    That’s right.

    Plenty of people possess the “will to buy” just lack the “mean to buy”!

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  • If you count the potential property buyers in Sierra Leone, Niger, Eritre, Central African Republic, India and Somalia the total number of potential buyers of UK properties would numbered billions.

    Covet is not the same as able.

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  • Hogwash.

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  • “Mr Perrins said pricing was “resilient” for “well-located product that is right for the local market and built to a high quality”. Berkeley is enjoying historically strong demand from overseas buyers, he added: “Demand from equity rich investors and those from overseas who are aided by the weakness of sterling has been strong”

    Why overseas investors would be interested in buying UK properties?

    UK is having high tax regime whereas there is no capital gain tax in Hong Kong.

    UK properties are in the falling trend………….where the market relies on available of credit that drained out already.

    Unlike UK, Hong Kong properties are well supported by fundamental economic data.

    UK property market is stagnant and there isn’t liquidity at all. There are abundant banks credits and personal savings to support high property value in Asian countries, why buy property in a market where you don’t know when/where to find the buyer.

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  • fallingbuzzard says:

    I don’t think the share price agrees with him

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  • Berkeley don’t pay final dividend, no investment value at all!!!!!!!!!!!

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