Friday, 4 November 2016

Housebuilders Have 'Licence To Print Money'

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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