We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Persimmon sees improving market
StevieJ
Posts: 20,174 Forumite
Yet another builder is fairly upbeat.
The UK's largest housebuilder by volume, Persimmon, has said that the housing market is stabilising after months of sharp falls.
"Recently, selling prices have stabilised in most parts of mainland UK," the company said.
The housebuilder confirmed it would not set aside any more money for write-downs for the value of its land.
http://news.bbc.co.uk/1/hi/business/8219500.stm
The UK's largest housebuilder by volume, Persimmon, has said that the housing market is stabilising after months of sharp falls.
"Recently, selling prices have stabilised in most parts of mainland UK," the company said.
The housebuilder confirmed it would not set aside any more money for write-downs for the value of its land.
http://news.bbc.co.uk/1/hi/business/8219500.stm
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
0
Comments
-
Spartacus. wrote: »The main reason for the stablising of the housing market.....
I can't post all the link because of noob status, just add http:// in front.
property.timesonline.co.uk/tol/life_and_style/property/buying_and_selling/article6805725.ece
I'm happy to keep saving and see where the next 18-24 months takes the market, with what's in front of us, it's unlikely to be up.
I know who you are
I claim my secret £5. 0 -
Spartacus. wrote: »The main reason for the stablising of the housing market.....
If householders lose their job the govt provides support by covering interest payments, if interest rates go up it only places people in the position they were in before, it shouldn't affect FTers because they are not offered low rates anyway (as rates go up margins should shrink and higher LTV at reasonable rates should return).'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
I know who you are I claim my secret £5.
Spartacus' struggle, often seen as the fight of an oppressed people fighting for their freedom against a slave-owning aristocracy
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
On the other hand, the Bank of England cannot keep the housing market on the life support of low interest rates for ever.
After the 1930's depression, UK interest rates stayed at 2% for 18 out of the next 20 years.
I wouldn't be so sure we'll see rate rises any time soon....;)“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Yet another vested interest is fairly upbeat.
The UK's largest housebuilder by volume, Persimmon, has said that the housing market is stabilising after months of sharp falls.
"Recently, selling prices have stabilised in most parts of mainland UK," the company said.
The housebuilder confirmed it would not set aside any more money for write-downs for the value of its land.
http://news.bbc.co.uk/1/hi/business/8219500.stm
Edited for accuracy.
:rolleyes: 0 -
Yet another builder is fairly upbeat.
The UK's largest housebuilder by volume, Persimmon, has said that the housing market is stabilising after months of sharp falls.
"Recently, selling prices have stabilised in most parts of mainland UK," the company said.
The housebuilder confirmed it would not set aside any more money for write-downs for the value of its land.
http://news.bbc.co.uk/1/hi/business/8219500.stm
Hate to admit it but Persimmon have two fairly big sites in Gloucestershire which have lots of sold or reserved signs on... but then they are one of the builders which are heavily involved in the Governments Homebuy Direct scheme...0 -
really2.. did you ever look at that stock tip i gave you? its up from 60p at the time to £1.80 now..It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
really2.. did you ever look at that stock tip i gave you? its up from 60p at the time to £1.80 now..
No I did not unfortunateley. I did say about Taylor Wimpy before Xmas. That was below 4p now 52.95p, to busy stockpiling cash at the moment. Once rates start to go up I will start to dabble.0 -
"Persimmon said it made a £9.8M profit in the six months to june, but it revalued it's land by £28M. If it hadn't done that, the housebuilder would have made a loss of £18M".It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
"The company's profit was boosted by a gain of £27.9m after it decided that the value of its assets had increased. Stripping out this gain, the company made an £18.1m loss."
Yes things are looking good for it. So if I owe the banks £100,000 but decide to revalue my £100 car myself to £10,000,000 everything will be ok then lol:rotfl:
If things are getting better then why are the builders all posting big loses. Interest rates are at only 0.5%, what happens to the builders if they rise?:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards