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What's in the budget for construction?
Snap analysis immediately after the event tends to be prone to knee-jerk reaction, but the thing that immediately springs to mind about this budget is the optimism regarding GDP growth in 2010 in 2011. While I wouldn't neccessarily argue with a 3.5% decline for this year, 1.25% growth for 2010 ...
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Is Persimmon afraid of the big bad City wolves?
This fortnight sees the big housebuilders update the City on just how appalling they think 2009 will be.It can't be a fun prospect.After a dozen or so highly numerate analysts have picked holes in their powerpoint presentations, most chief execs and FD's will probably need a quick single malt before ...
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Barratt slashes house prices by 43% - good or bad news?
Barratt's attractiveness to investors is a moot point.Some in the City believe the housebuilder is over the worst and say its shares are worth a punt at 60p-ish. They point to the rescue deal it struck with its banks in the summer.Others are more reticent. Included in that camp is ...
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Taylor Wimpey update update
There is a degree of uncertainty surrounding the date of Taylor Wimpey's next trading update - but what can we read into it?While Persimmon brought theirs forward this week and Barratt and Redrow are pencilled in the diary for November, there is no word from TW on a date yet.It ...
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A week is a long time in housebuilding
This week's news that £254m-turnover David McLean had fallen into administration sent reverberations around the industry because it was the biggest construction faller yet in the credit crunch.Administrator Deloitte will wind up the contracting arm and plans to sell off its housing developments; all very sensible so far.Presumably all the ...
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Bit of banter between Pidgley and Ronson
At a recent property event, heavyweights Tony Pidgley and Gerald Ronson shared a stage.It didn't take long before the thorny subject of planning came up. Berkeley Homes boss Pidgley bemoaned a process he said overlooked the fact real human beings were involved.He continued: "I was in Disneyland with my three-year ...