Barratt Announcement?

jamescredmond

dopester wrote: »

Speaking of which, can you spot the Barratt mistake with this house?

(I found this originally on a thread at the hpc forums)

http://www.barratthomes.co.uk/assets/a7e7b0ca-e2fa-42fc-90b8-98627c2e8754.jpg

I had a good laugh at this one.

they can't even get a mock-up right!!

neverdespairgirl

owitemisermusa wrote: »

How on earth are you going to drive into your garage? Over your beautiful lawn?

Silly.

But, surely, no-one actually keeps a car in a garage? It's full of bikes, old paint tins, a freezer, some broken shelves....

Neillgb

owitemisermusa wrote: »

How on earth are you going to drive into your garage? Over your beautiful lawn?

Silly.

Perhaps the lawn is £10 cheaper to do than a driveway. Watch the pennys.......

Jorgan_2

I'm assuming that picture is a photoshop or simialr. Nice house though.

martinman3

Neillgb wrote: »

Perhaps the lawn is £10 cheaper to do than a driveway. Watch the pennys.......

It could be the opposite, Astroturf laid over concrete maybe.:p

dopester

dopester wrote: »

52 week high: £11.11p

52 week low: £2.48p

Last close: £2.40p (-3.32% on trading day)

Now... I make that an approximate -78% House Developer Stock Crash.

Of course, it's not even feasible that house prices could follow a similar path.

We're now out of range for Barratt's previous 52 week high (call the £11.11p around 62 week maybe) when life was still a sunny dream of house prices continually going up tens of thousands / hundreds of thousands a year...

So where are we now?

52 week high: £10.75
52 week low: £0.92 (or ninety one and a half pence if you want to be fussy*)
Last close: £0.92p (-24.22% on trading day)

Telegraph: Barratt 'needs £1bn to survive'

In a savage note, Dresdner Kleinwort withdrew its target price on Barratt in a note titled: "Don't buy [at any price]."

The company completed its £2.2bn takeover of rival Wilson Bowden last year but the combined group now has a market capitalisation of just £317m.

After falling out of the FTSE 100 six months ago, it is now languishing near the bottom of the FTSE 250.

obsessed_saver

Telegraph wrote:

Analysts at Cazenove said: "Actions speak louder than words and some actions by the UK housing companies are at full volume. Taylor Wimpey, for example, has closed a third of its offices. This would appear to show that management is not anticipating a short sharp shock of credit rationing and confidence loss but a fundamental reduction in volume levels."

I think they reap what they've sown. If house builders acted responsibly, and priced homes reasonably, and more importantly, built homes to meet the "demand", instead of trying to control prices by manipulating "availability", they would have not gotten spectacular gains in a short few years, but generally stay in business for the long term.

Now they are sitting on their "land banks" because of their greed and going bust.

It's the case of killing the goose that lays golden eggs.

Generali

obsessed_saver wrote: »

I think they reap what they've sown. If house builders acted responsibly, and priced homes reasonably, and more importantly, built homes to meet the "demand", instead of trying to control prices by manipulating "availability", they would have not gotten spectacular gains in a short few years, but generally stay in business for the long term.

Now they are sitting on their "land banks" because of their greed and going bust.

It's the case of killing the goose that lays golden eggs.

Aren't big developers' land banks usually in the form of (much cheaper) options?

I was reading on another forum about how the big developers structure their business model to follow boom and bust in the housing market and so can effectively 'hibernate' when things go bad.

iyiarz

Wow, currently -26.5% today so far. Down to 0.67p

mystic_trev

LONDON, June 11 (Reuters) - Britain's mortgage banks and property valuers are to tighten up their conveyancing procedures in the wake of a housing downturn that has exposed some sharp practices on newly built homes.

"Some lenders have been concerned that the valuation and conveyancing processes do not always capture discounts and other incentives that buyers may be able to negotiate with developers when purchasing newly built property," the Council of Mortgage Lenders (CML) said in a statement.

"This may mean that, in some instances, lenders might unintentionally offer a mortgage based on a valuation of a property that is higher than the true price paid for it."

http://www.reuters.com/article/bondsNews/idUSL1145719320080611