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HOUSE BUILDING SURPLUS AT LAST HOORAY!!
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CUEBALL
Posted: 23 September 2016 20:19:34(UTC)
#1

Joined: 06/04/2014(UTC)
Posts: 983


YOU'D THINK SO LOOKING AT THE SHARE PRICES...

WHAT YOU WAITING FOR THEN ?....

VERA (OFF THE NUMBER 9)
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CUEBALL
Posted: 23 September 2016 20:33:37(UTC)
#2

Joined: 06/04/2014(UTC)
Posts: 983
....Apologies for that ...but don't shoot the messenger 'bin doin' my bit TW ..GLEESON..GFRD
as you know........and all their suppliers
x
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Jon Snow
Posted: 23 September 2016 22:01:33(UTC)
#3

Joined: 02/03/2014(UTC)
Posts: 1,172
Cuey,

Where's the land "suddenly" coming from for your bricks and pipes to be used on?
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CUEBALL
Posted: 24 September 2016 10:39:05(UTC)
#5

Joined: 06/04/2014(UTC)
Posts: 983
I don't think supply of land is the immediate concern ....on a personal note recently had yet another letter drop on my doorstep enquiring as to whether I would be prepared to sell (and not from an estate agent ) ...other's look to "past cycles"...current conditions? ....not in my lifetime
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srg751
Posted: 25 September 2016 01:34:30(UTC)
#4

Joined: 10/08/2013(UTC)
Posts: 1,295

Thanks: 554 times
Was thanked: 1262 time(s) in 603 post(s)
Jon Snow;37711 wrote:
Cuey,

Where's the land "suddenly" coming from for your bricks and pipes to be used on?



Builders have been acquiring and stockpiling it for 8 years. Bought at 'sale' prices. Some are now using it as a second revenue stream, selling plots to other builders.
Take a look at Inlands books.
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CUEBALL on 25/09/2016(UTC)
CUEBALL
Posted: 25 September 2016 09:21:23(UTC)
#6

Joined: 06/04/2014(UTC)
Posts: 983
.....send for Jimmy Nail......people have short memories.....we re-built Germany ......
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Alan Selwood
Posted: 25 September 2016 10:30:47(UTC)
#7

Joined: 17/12/2011(UTC)
Posts: 3,379

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Was thanked: 7200 time(s) in 2183 post(s)
There was a very comprehensive article about house-builders in Investors Chronicle dated 23/09/2016.

It showed the relative risk of downturn v. future gains of a number of house-builders, and various metrics for each one, from the basic P/E ratio to many much more complex ones. Also the NAV calculations for each builder on the list over the last few years. Overall, it seemed to conclude that the biggest influence on profitability and share prices was the rising sale price of houses, and the biggest downside was falling house prices followed by increased build costs.

All as you might expect, but clearly laid out. Well worth a read IMHO.
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Jeff Liddiard on 25/09/2016(UTC), Guest on 28/09/2016(UTC)
srg751
Posted: 25 September 2016 19:45:21(UTC)
#8

Joined: 10/08/2013(UTC)
Posts: 1,295

Thanks: 554 times
Was thanked: 1262 time(s) in 603 post(s)


Gleeson results Monday.... And Wolsley results Tuesday.
SP reaction won't tell us a lot. But look at the numbers.
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Jon Snow
Posted: 25 September 2016 22:14:26(UTC)
#10

Joined: 02/03/2014(UTC)
Posts: 1,172
I simplify to make my point.

Those big, out of town, out of favour hyper/supermarkets/parking spaces that still own their property, they could have some pretty valuable land if it could be passed for housing....

I recall, back in the day, Ken M liked to own his own properties before the smart guys appeared and said oh no, Opco and Propco is the future and so Propco gets spun off.

Sainsburys did the same, it seemed such a clever thing to do at the time.... what could go wrong, the SP is supported by our P/E not our boring tangible assets.
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Jon Snow
Posted: 25 September 2016 22:17:33(UTC)
#9

Joined: 02/03/2014(UTC)
Posts: 1,172
srg751;37767 wrote:


Gleeson results Monday.... And Wolsley results Tuesday.
SP reaction won't tell us a lot. But look at the numbers.


Which ones in particular ?

The Wolseley UK business would be my suggestion.
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