bigger landbanks less houses
james36armstrong at hotmail.com
Wed Aug 26 19:50:17 BST 2009
>From Nick Mathiason, Guardian 26th Aug, 09
“Persimmon yesterday became the first major housebuilder to increase the value of its huge landbank in a significant moment that could mark the end of the two year housing crisis.
The country’s largest quoted housebuilder boosted its bottom line by #28m. by saying its land bank of 64,387 plots has now risen in value. Last year Persimmon wrote down the value of its land bank by #680m
Persimmon is now in the market to buy land having reduced debt to #494m. from #905m. this time last year.
Farley (Persimmon’s chief executive) predicted just 80,000 homes will be built in England and Wales this year representing a low not seen since the second world wear. The housebuilding industry has dramatically cut output in a move that has helped stem the fall in houseprices and protected their margins.”
Quote from page 9, Barker Review of Housing Supply ,Interim Report 2004,
“Regional Planning Guidance for England indicates that nearly 155,000 houses per annum should be built….”
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