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Prices & Quotes - UK Markets - Barratt Developments (BDEV)

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Share Price:
Up 718.80p
Change Today:
7.80p
Market Cap:
7,350m
Sector:
Household Goods & Home Construction

House price growth softens, but supply issues remain - RICS

By Abigail Townsend

Date: Thursday 14 Oct 2021

LONDON (ShareCast) - (Sharecast News) - House price continued to grow in September, a closely-watched industry survey showed on Thursday, but at a slower rate than previously seen.
The latest RICS Residential Market Survey for September reported a net balance for house prices of 68%. That is down on August's net balance of 73%, and notably lower than May's peak of 82%. It was also below consensus, for 70%.

Newly agreed sales also fell in September for the third month in a row, with a net balance of -15%. New buyer enquiries were unchanged on September, having fallen in July and August.

The UK stamp duty land tax finally reverted to its pre-pandemic 125,000 threshold on 30 September, with the holiday - introduced last year to support the market following the first lockdown - tapering out over the summer.

But despite this, house prices continue to be supported by a lack of available stock. A net balance of -35% respondents reported a further fall in instructions, compared to -36% in August, and a net balance of 70% of respondents expect house prices to rise in the coming year, as demand continues to outstrip supply.

Simon Rubinsohn, chief economist at the Royal Institution of Chartered Surveyors, said: "The imbalance between demand and supply remains the most striking theme of the September survey. And feedback from members provides little reason to believe this issues will be resolved anytime soon.

"This is very clearly reflected in the forward looking metrics, with both price and rent expectations close to series highs, to put greater pressure on affordability at a time when money markets are sensing interest rate increases coming sooner rather than later."

Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said: "The housing market will face a much bigger test next year, when mortgage rates likely will rise and affordability will worsen as a larger share of households incomes are taken up by spending on essentials, such as food and energy.

"Our forecast for year-over-year growth in house prices to decelerate to about 4% in 20220, from about 8.5% this year, is contingent on our view that Bank Rate will rise only to 0.25% next year."

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BDEV Market Data

Currency UK Pounds
Price 718.80p
Change Today 7.80p
52 Week High 794.80p
52 Week Low 583.40p
Volume 2,155,675
Shares Issued 1,022.46m
Market Cap 7,350m
Beta 1.33

Performance Indicators

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What The Brokers Say

Strong Buy 15
Buy 1
Neutral 3
Sell 0
Strong Sell 0
Total 19
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BDEV Dividends

  Latest Previous
  Final Interim
Ex-Div 30-Sep-21 15-Apr-21
Paid 09-Nov-21 10-May-21
Amount 21.90p 7.50p

Trades for 03-Dec-2021

Time Volume / Share Price
16:45 1,410 @ 716.40p
16:45 1,410 @ 716.40p
16:42 5,111 @ 718.80p
16:35 571,738 @ 718.80p
16:29 350 @ 716.60p

BDEV Key Personnel

COO Steven J Boyes
Chair John Allan