Builders buoyant despite house price blip
Tuesday 23 September 1997
A survey published today by the Royal Institution of Chartered Surveyors shows a fall in the number of surveyors seeing house price increases, with only London and the West Midlands reporting rises in the three months to the end of August.
But the findings are at odds with the view of Beazer, the UK's third- biggest housebuilder, which revealed yesterday that it believed it could nearly double its current output of houses.
Dennis Webb, chief executive, said there was still plenty of "headroom" for the housebuilding industry, with the 155,000 units built in the last year still well short of the 180,000 to 185,000 expected to be required to accommodate new households and the replacement of old housing stock. "We believe public demand can withstand some continuing interest rate rises, if this proves to be necessary."
Beazer's pre-tax profits jumped 34 per cent higher to pounds 62.2m in the year to June.
Ibstock, one of the UK's two largest brick groups, said there was continued optimism about the market for the rest of the year. Boosted by the acquisition of the Steetley brick operation from Redland last year, pre-tax profits jumped from pounds 2.41m to pounds 8.45m in the latest half-year.
Elsewhere, Rugby, the country's third-ranking cement producer, said the housing and commercial markets remained "reasonably strong".
Pre-tax profits before exceptional items rose 12 per cent to pounds 32.6m in the six months to June, while the interim dividend is being raised 10 per cent to 1.65p.
- 1 School playground evacuated over 'unusually aggressive' grey squirrel
- 2 Hollywood actor Mickey Rourke beats opponent 33 years his junior in exhibition boxing match
- 3 Jennifer Lawrence scores first UK top 40 single with Hunger Games track 'The Hanging Tree'
- 4 Today was a bad day for renters, landlords, and democracy
- 5 'You should come to my house and eat cheeses with me': 4-year-old sends adorable love letter to girl at school
At least 100 dead after Islamists launch attack on Nigerian mosque
Hollywood actor Mickey Rourke beats opponent 33 years his junior in exhibition boxing match
'You should come to my house and eat cheeses with me': 4-year-old sends adorable love letter to girl at school
Scientists predict green energy revolution after incredible new graphene discoveries
Russell Brand: 'Katy Perry? I don’t know who that is'
Obama: The only people with the right to object to immigration are Native Americans
Ukip says babies born to immigrants in the UK should be classed as migrants – which would include Nigel Farage’s own children
The young are the new poor: Sharp increase in number of under-25s living in poverty, while over-65s are better off than ever
David Cameron sets out immigration reforms: We should distrust Ukip and their 'snake-oil of simple solutions'
Ukip mocked after mistaking Westminster Cathedral – for a mosque
Tamir Rice: 12-year-old boy playing with fake gun dies after being shot by Ohio police
iJobs Money & Business
Excellent Package: Austen Lloyd: EAST ANGLIA - SENIOR SOLICITOR LEVEL ROLE** -...
£Attractive Package: Citifocus Ltd: Prestigious asset management house seeks a...
£Negotiable: Citifocus Ltd: This is a varied role focusing on the firm's mutua...
£90000 - £140000 per annum + benefits: h2 Recruit Ltd: Are you a high achievin...