Housebuilders Upbeat Despite Slowing Market

Listed builders have been updating the market this week in the context of an uncertain outlook for house prices

James Gard 16 November, 2017 | 3:55PM
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House price surveys are suggesting that growth in the UK property market is slowing down or, in some areas, falling. But is there any evidence of this slowdown in recent trading updates from the country’s listed housebuilders?

Last week Britain’s biggest housebuilder Persimmon (PSN) caused a rare wobble in the sector’s shares as it revealed that sales from July to November 2017 were flat on the same period last year. The number of sales outlets was down 10% year on year. The trading statement did not include any new detail on profit margins, average selling prices or dividends, which are a strong part of Persimmon’s appeal to individual investors with a yield over 5%.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Barratt Developments PLC753.80 GBP0.00
Crest Nicholson Holdings PLC416.00 GBP0.00
Persimmon PLC3,103.00 GBP0.00
Taylor Wimpey PLC177.00 GBP0.00
Vistry Group PLC1,271.00 GBP0.00

About Author

James Gard  is content editor for Morningstar.co.uk

 

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