LONDON (Reuters UK) - House builders are not artificially inflating house prices by cutting off supply or hoarding land, according to a report from the country's consumer watchdog published on Thursday."We have found the homebuilding market to be generally competitive, with no evidence that individual homebuilders have the ability to...
By Simon MeadsLONDON (Reuters UK) - Taylor Wimpey TW announced a further delay in renegotiating its 1.7 billion pound debt burden and raised concerns of a default on its eurobonds, sending its shares as much as 8.7 percent lower.The nation's largest housebuilder by number of homes said that securing a...
'Slapping firms on the wrist with large fines doesn't go far enough' DOUG TAYLOR, from consumer group Which?, calls on regulators to get tough over the mis-selling of payment protection insurance on loans and credit cards 'If energy companies want to maintain profits this...
Byline: JASON MCCARTNEY AS the dust settles on Gordon Brown's conference speech in Manchester it's as good a time as any to look back at the broken promises he made a year ago when addressing the Labour party. Among the pledges broken by Gordon Brown over...
Briefing THE OFFICE of Fair Trading OFT has largely given housebuilders a clean billof health, but has recommended establishing a body and a code of conduct toaddress consumers' grievances. The OFT concludes that the sector is "broadly competitive" - which pleased house- builders who had feared...
Business News IN BRIEF *The Government will miss its target to build three million homes by 2020 by up to nine years as the credit crunch takes its toll on housebuilders, the National Housing Federation said yesterday. Housing associations could play a role in getting the...
Byline: HENRYK ZIENTEK HOUSEBUILDER Galliford Try said a record year for its construction arm was thwarted by the downturn in the housing market. The group reported flat profits as the declining property market squeezed housebuilding margins and selling prices, prompting the group to offer more discounts...
Byline: By DAVID OLD HOUSEBUILDER Barratt has announced a raft of drastic measures in a bid to inject some life into the housing market. The Newcastle-based firm has revealed it is paying up to pounds 15,000 of stamp duty for buyers, a part exchange plan, and...
Byline: By HENRYK ZIENTEK Business Reporter HOUSEBUILDER Barratt today announced a raft of sales incentives to shift stock after a 68% slide in profits. The firm, which posted pre-tax profits of pounds 137.3m for the year to June 30, is paying stamp duty on houses worth...
IN one of the most drastic industrial reverses in postwar Scottish history, the credit crunch has cost around a quarter of the entire housebuilding workforce in the last three months. CBI Scotland director Iain McMillan has called the situation 'devastating' and said it risked damage to the...
CAMPAIGNERS lobbied councillors to support their village green last night. Members of Clayton Fields Action Group urged Kirklees Council not to allow house-building on eight acres of wild land. The fields off Deveron Grove, Edgerton, have village green status, severely restricting development, after a successful campaign...
LEADING ARTICLE Anyone who has lived through previous ups and downs in the housing market will find nothing surprising about the pain that housebuilders such as Taylor Wimpey are feeling at the moment. Until this year, it was an unsustainable bubble. Construction firms were always going...
The collapse in the housing market has left Taylor Wimpey, the country's largest builder, 1.5bn in the red. The colossal deficit, after slashing jobs, closing offices and writing down the value of its building land, mirrors the drastic retrenchment carried out by other leading housebuilders. ...
Outlook His colleagues in the housebuilding industry won't thank him for his honesty, but Taylor Wimpey's chief executive, Pete Redfern, hit the nail on the head yesterday in admitting there is little the Government can do to fix the housing market. While several of Taylor Wimpey's...
Bovis Homes has slashed its dividend and cut 400 jobs as it grapples with the deepening housebuilding slump. More big cuts in the price of its homes are also planned as it tries to tempt buyers. Its chief executive, David Ritchie, said the Government should urgently find...
HOUSEBUILDER Bovis Homes said today it was braced for further tough conditions after reporting an 80% slump in half-year profits. The group's pre-tax surplus for the six months to June came in at pounds 9.5 million, down from pounds 58.4 million for the previous year, after what it...
Taylor Wimpey and Bovis Homes are expected to report dire half- year results this week. MF Global Securities has forecast pre-tax profit of 60m at Taylor Wimpey, down 76 per cent on the first six months of last year. Bovis is expected to slump 60 per cent...
DAILY Mirror A child who survived the Madrid holiday jet crash told rescuers he thought he was in a disaster movie as they plucked him from the burning wreckage. THE Sun A model schoolboy plunged 60ft to his death after a hoodie gang stamped...
Byline: By HENRYK ZIENTEK Business Reporter HOUSEBUILDER Persimmon today kicked off what is set to be a grim results season for the sector after first-half profits slumped by nearly two-thirds. The York-based firm, which said trading conditions were the most challenging in its recent history, has...
Articles 2008-08-21
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