Experts claims housebuilders have a “licence to print
money” as rock solid demand for housing delivers bumper sales for a raft of
firms. The comments came as Persimmon issued a buoyant set of third quarter results,
pushing up the share prices 2% in early trading. The company described trading
in the weeks following Britain’s decision to quit the European Union as
“encouraging”, adding that customer activity strengthened at the start of
autumn. After the firm posted its results, Neil Wilson, markets analyst, said:
“In fact being a housebuilder right now in Britain, with ultra-low interest
rates and Help to Buy, is a licence to print money. A chronic shortage of
housing means they can rely on rock solid demand whatever the economic
conditions.” Read more on the Chronicle website.
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