View more on these topics

Housebuilder says demand is up since Brexit vote

STEPS CentrePersimmon Homes has reported an 8 per cent rise in full-year revenues to £3.14bn, noting that housing demand has increased since the Brexit vote.

In a fourth quarter trading update the housebuilder also reported average selling prices rose by 4 per cent to £206,700.

The Share Centre analyst Ian Forrest says: “Interested investors should appreciate that demand for houses has actually increased since the EU referendum last June with the forward sales book up 12 per cent on this point last year to £1.23bn.

“The group’s confidence was underlined by news that it has acquired a further 18,700 plots and opened 255 new development sites during the year.”

Forrest says that these were “good, solid results” from Persimmon. He says demand and supply factors keep the outlook for this company, and the wider house building sector, positive due to the shortage of affordable homes in the UK and favourable government policy to the sector.

He adds: “While there has been a limited affect from Brexit so far the longer term risk to the UK economy created by the UK’s decision to exit the European Union remains so we continue to regard the shares as higher risk.”

Recommended

calendar

The top ten mortgage stories of 2016

As 2016 draws to a close, Mortgage Strategy has compiled our top ten most-read stories of the year. In the finest traditions of awards ceremonies everywhere, our list will start at number 10 and work down to the most popular mortgage story of the year. So join us in revisiting the topics that got the […]

Football-Pitch-Sport-Grass-700x450.jpg

Ex-broker convicted over Chelsea FC train racism

A former commercial mortgage broker is among four Chelsea Football Club fans given suspended prison sentences for a racist attack on the Paris metro in 2015. The attack took place after a European Champions League game in February 2015 between Chelsea and Paris Saint-Germain. A group of Chelsea fans were filmed refusing to let a […]

Cash-Wallet-Consumer-Retail-Shopping-700x450.jpg

Bank of Ireland UK tweaks BTL stress rates

Bank of Ireland UK has today changed its buy-to-let stress rate to comply with Prudential Regulation Authority’s rules which came into effect on 1 January 2017. Rental income must be at least 145 per cent of the monthly stressed interest rate, including any product fees added to the loan. If the product is fixed for […]

Can you put a hat on?

By Sarah Scott, marketing consultant You might think the question in the title is a strange one. Perhaps even more so when you learn that it’s one of several asked as part of an assessment for Employment Support Allowance eligibility in the opening scenes of the 2016 film, ‘I, Daniel Blake’. Daniel is a carpenter […]

Newsletter

News and expert analysis straight to your inbox

Sign up