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 Cyclist who knocked down three-year-old girl says his life has been 'destroyed'
- 2 A politically correct lefty goes to see Top Gear live – you'll probably believe what happened next
- 3 Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
- 4 Puerto Rico, island of lost dreams: People are leaving the debt-hit territory in droves as near neighbour Cuba's star rises
- 5 Snoop Dogg on why he doesn't regret displaying misogyny towards women
Cyclist who knocked down three-year-old girl says his life has been 'destroyed'
Woman accidentally shoots herself in the head while posing for a selfie
How China's richest man Li Hejun lost $15bn in an hour - and made a fortune
Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
Snoop Dogg on why he doesn't regret displaying misogyny towards women
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
The day that Britain resigned as a global power
Almost a third of school pupils believe 'Muslims are taking over our country', study claims
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
Gay marriage 'Bert and Ernie' cake bakery found guilty of discrimination in Northern Ireland
iJobs Money & Business
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...
£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...
£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...
£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...