Bovis’ outlook gloomy following 30% drop in reservations
The Bovis board has spoken of “sharply deteriorating conditions” in the housing market, in its May 6 trading update. The plc has blamed negative consumer sentiment and the growing dearth of available mortgages for its need to sharply revise down forecasts on those issued at its preliminary results statement two months previously.
Bellway and Redrow deny merger talks
Bellway and Redrow have denied rumours that they are discussing a possible merger – a deal which would make the new company the industry’s third largest developer after Persimmon and Taylor Wimpey, with an equity value of £1.2 million. The companies are currently the UK’s fifth and seventh largest quoted builders.
Rumours fly over Barratt rights issue
Rumours are flying of a rights issue by Barratt, which has debts of £1.7 billion. The Financial Times (May 7) has also reported on talk of a £400 million cash injection into the company from private equity firm Apollo, which took a stake in Countryside last year.
NHBC launches taskforce on customer satisfaction
The NHBC has joined with John Callcutt to launch a new task force to help the industry in its drive to further improve customer service standards.
Construction diploma plans on track
Towards Zero
In our second installment following the progression of Miller Homes’ sustainable Miller Zero project, the company’s procurement director Garry McDonald explores the issues impacting on its development
Stewart Says
The government must avoid throwing all of its zero carbon eggs into one basket; ecotowns are only part of the solution
Soapbox
Cala’s group land director Robert Millar contends that developing selected greenfield and greenbelt sites is a sustainable proposition
Regional Snapshot – Wales
The collapse of Welsh firm Meadgate in March sent shockwaves through the sector. Steve Menary considers local market conditions
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