Planning reforms have had ‘profound and hugely positive impact’, Berkeley says December 6, 2024 FTSE 100 house builder Berkeley said it was on track to meet its profit targets in 2025 as it announced a new investment strategy to help capitalise on the government’s planning reforms. The government has committed to building 1.5m new homes over the course of the parliament. To meet its target, ministers are consulting on [...]
Slump in housebuilding casts doubt on government’s new homes pledge December 5, 2024 Tim Moore, economics director at S&P Global Market Intelligence, said housebuilding was suffering from a "sustained downturn".
Costain wins major HS2 contract December 4, 2024 The deal will see Costain supply tunnel and lineside mechanical and electrical system over a seven-year period.
Construction projects in London dipped but developer optimism remained November 28, 2024 Construction projects in London dipped this year, but positive signals like lower interest rates and easing construction cost inflation have boosted optimism amongst developers. The number of construction projects started between April and September this year fell by 12 per cent, with refurbishments down 57 per cent, according to the Deloitte London office crane survey. [...]
Taylor Wimpey: Higher demand buoys sales as firm preps for planning reform November 7, 2024 After a tough start to the year, Taylor Wimpey has reported signs of improving customer demand as mortgage rates fall and affordability pressures ease. The housebuilder said it remained on track to deliver UK volumes in line with previous guidance of 9,500 to 10,000 homes and operating profit consistent with current market expectations. In the [...]
Calls for audit reform grow after ISG found to owe £1bn November 3, 2024 Construction giant ISG collapsed with debts over a billion pounds, newly published filings have shown, prompting fresh calls for audit reform. ISG, which specialised in delivering government contracts projects like London’s velodrome, went bust in September after attempts to secure a rescue deal failed. The demise of ISG was the largest and most significant collapse [...]
Morgan Sindall: Profit at construction firm set to surpass expectations October 22, 2024 Profits in the Fit Out division have continued to "strengthen significantly" due to exceptional volumes and will "materially exceed" expectations, it said.
Ibstock: Housebuilding is recovering, but rebuilding supply chains will take time October 17, 2024 Building supplies company Ibstock has said that it has seen early indications of a positive trend in the UK’s housing market, but a full recovery in end markets won’t happen soon. It said that it saw new-build residential activity improving, but that it “expect[s] this to take time to feed through into sustainably stronger demand [...]
Marshalls: Revenue ticks down but recovery on the horizon October 16, 2024 Housing industry supplier Marshalls has reported another dip in revenue but has predicted a cyclical recovery in its key markets. The group, which is headquartered in West Yorkshire, said that revenue fell by three per cent year on year in the third quarter, a “material improvement”, from earlier in the year. Year-to-date revenue stood at £476m, down [...]
Bellway profit craters but shares jump on strong look-ahead October 15, 2024 Despite a significant drop in completions and profit, housebuilder Bellway has said it is well-positioned to deliver growth going forward and supports the Government’s plan to unlock housing construction. Shares surged by more than eight per cent in early trades. Bellway told markets this morning that profit fell by 44.6 per cent in the year [...]