Tag: Taylor Wimpey
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Reuters Poll Says House Prices Will Flatline This Year
British house prices, which have seen a tumultuous time, are expected to stabilise this year, offering a silver lining for prospective homeowners. This stabilisation is a step up from previous forecasts and is attributed to a combination of supply constraints and anticipated cuts in interest rates. The property market in the UK has shown signs…
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“Own New” – Sub-1% Mortgage Rates Now Available for New Builds
Own New has unveiled a mortgage scheme that harks back to the near-record low rates of Autumn 2021. But there’s a catch – these dreamy rates are exclusive to new-build home buyers. Dubbed the “Rate Reducer” scheme, this innovative offer promises to make homeownership more accessible and affordable, especially for those willing to invest in…
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Virgin Money Launches New Mortgage Scheme
Virgin Money has just unveiled a new mortgage product in partnership with Own New, designed to make the dream of owning a new build home more achievable for many. Dubbed the “Rate Reducer,” this new offering is set to revolutionise how prospective homeowners can afford their future homes. Making New Homes More Affordable As of…
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Housebuilding Hopes – Can the Spring Budget Rebuild Britain’s Property Dream?
The upcoming spring budget is poised to be a pivotal moment that could either reinvigorate the struggling housebuilding sector or deepen its woes. With mortgage rates on a downward trend and a general election on the horizon, the government’s next moves could be crucial in addressing the nation’s acute housing shortage. A Rough Year for…
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Crest Nicholson’s Profit Plunge – Tough Year Ahead for UK Housebuilder
Crest Nicholson, the Surrey-based housebuilder, has announced a significant cut in its profit outlook for the third time in just six months. This decision, driven by escalating costs and unforeseen legal challenges, paints a concerning picture for the company and the broader housing sector. Escalating Costs at Brightwells Yard At the heart of Crest Nicholson‘s…
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Strong Demand for New Homes Predicted
Knight Frank estate agency has noticed a trend. Despite tough economic times in 2023, buyers are still keen on new properties priced between £500,000 and £1m, especially in desirable locations. This “flight to quality” means that despite the challenges, there’s a significant demand for well-located, well-priced properties. Interestingly, buyer confidence picked up notably in the…
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Redrow’s Financial Performance
Redrow, based in Flintshire, has forecasted its revenue for the 2024 financial year to be between £1.65 billion and £1.7 billion. However, its pre-tax profits are expected to be lower, ranging from £180 million to £200 million. This projection places Redrow’s annual results towards the lower end of its anticipated outcomes. Impact of External Factors…
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Taylor Wimpey’s Optimistic Forecast
In a climate where economic forecasts are often more gloomy than sunny, one of the UK’s leading property developers, Taylor Wimpey, is more optimistic. The company has announced that it is on track to hit the higher end of its profit forecast for the current year, a testament to its strategic operations amidst a housing…
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UK Housebuilding Hits a Rough Patch Amid Economic Pressures
In recent months, the UK’s construction sector, particularly housebuilding, has been experiencing a downward trend that hasn’t been this pronounced since the height of the Covid-19 pandemic. This is a development of particular interest to those invested in property or considering it, as it highlights the intricate connections between borrowing costs, demand for new homes,…
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High Interest Rates Could Hit Housebuilder Shares
The UK housebuilding industry is facing a challenging time as higher mortgage rates put pressure on the market for new homes. This has led to concerns that profits will decline, leading to potential job cuts and reduced dividend payouts. Crest Nicholson is the latest company to issue a profit warning, expecting its pre-tax profits to…