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Boring Bernie 08 Aug 2017

Trading Update So, with revenue up by 13% and margins improving, it looks like eps for the FY will be up by 14 to 15%.Quite remarkable really, and still continuing to do better than I'd expected, with, based on the order book, double digit growth likely to continue into 2017/18.

coldingham 10 Jul 2017

Sunday Times Investigation Sunday Times 9th July contains article regarding repairs to sub standard new homes which may interest investors[link] may find this article sheltered behind the paywall)

Boring Bernie 14 Jun 2017

Re: Trading update Aye, that was a very pleasant surprise that update.I reduced by something like 25% a few months ago Mike, but I'm still holding the rest.

II Editor 14 Jun 2017

NEW ARTICLE: Bellway at all-time high and set for more "Political uncertainty remains an ongoing talking point both among commentators and investors. Talk currently is that a deal between the Conservatives and the Democratic Unionist Party could slip into next week.Still, for those requiring clarity ..."[link]

KEEPING CALM MIKE 14 Jun 2017

Trading update Good positive trading up date this morning and the market likes it, hence the massive 4.5% increase. Bernie you still on board ?? Good long term hold for me , been in them for over 15 years.K.C.M.

coldingham 21 Mar 2017

Re: Interims Results about where I'd expected as well. However the shares are beginning to look fully valued and I have sold with a 60% gain in well under a year quite apart from the diviStill have faith in Bellway but main reason for selling is market as a whole has had a good run and with various uncertainties kicking around I'm feeling this summer could be a "sell in May.." yearOn that basis I'll be looking to buy on the dips towards the autumn

Boring Bernie 21 Mar 2017

Interims So, eps, at just over 10% up, came in marginally above the 9% I'd pencilled in, but growth looks like settling at about that level, so I reduced my holding here by about 25% at 2875p.The PEG ratio here is still pretty undemanding, but housebuilders always seem to struggle to be recognised by the market so it's now time to start thinking about where to reinvest the proceeds from todays sale.I'm still fairly happy to hold the remainder at the moment, but I'm expecting the sp to follow growth in eps now, which, with the divi should still hopefully be comfortably be in double figures over the next two or three years ( well, Brexit may have an effect, but if it does, it's likely to effect most of the market ).

Boring Bernie 08 Feb 2017

Re: Trading Update Re " but if an argument to sell some why not all?"If a company is looked fully valued, or a tad over-valued, I reduce my holding, but don't sell up completely until it looks well over-valued.Fully valued and over valued are subjective, but it's a technique which has worked for me for a long time, mainly because markets tend to overreact, both at the top and the bottom, but I find trying to call the absolute top ( or the bottom for that matter ) nigh on impossible, so doing things this way smooths out the process.

coldingham 08 Feb 2017

Re: Trading Update Up £1 since we last spoke on back of RedrowNearing all time highTime to take some profits but if an argument to sell some why not all?

Boring Bernie 07 Feb 2017

Re: Trading Update Re "The problem is where to invest the proceeds to produce a similar return"Fair question, to which I don't have an answer, but, with eps looking like growing at high single digits, then, going forward, you either keep for the divi and hopefully a smallish capital gain, or you start to look elsewhere.With the sp rises over the last however many years I've been holding, I'm a bit overweight in Bellway now, so I'll likely be reducing at some point and worrying what to do with the proceeds later !

coldingham 07 Feb 2017

Re: Trading Update The problem is where to invest the proceeds to produce a similar return?I agree that with 50% appreciation since I bought the time might be right to take some profit, but forward forecast looks well managed unless the government does something stupid. (Always a possibility)

Boring Bernie 07 Feb 2017

Trading Update Bunging the numbers quoted in a calculator shows operating profit for H1 should be up around 9%, which is pretty much what I expected.It's getting periously close to the point where I'll likely be reducing here.

villafan1 03 Feb 2017

Re: Leasehold Scandal Yes, I think it's underhand too. I must admit, the conveyancing thing baffles me. One would think the solicitor would be able to decipher it. But I (on Vic Derbyshire) they did allude to the fact that wording was so deliberately ambiguous with regard to the lease/ground rent that it was almost impossible to clarify. I never realised so many houses were leasehold till I watched the programme. In a way the buyer is completely stuffed because they factor in the costs of the ground rent before signing on the dotted line. And it's even more scandalous that the 'new' companies are hiking up costs when so little maintenance is carried out. The developers must be on a back-hander with the new freehold companies and it must be very lucrative, or they wouldn't deliberately choose to develop leasehold over freehold. So greedy! Should there be enough legal action against developers, I can see big problems arising in the property sector - all their own doing really. It's on a parallel with motorists being encouraged to buy diesel cars...

villafan1 03 Feb 2017

Re: Leasehold Scandal Yes, I think it's underhand too. I must admit, the conveyancing thing baffles me. One would think the solicitor would be able to decipher it. But I (on Vic Derbyshire) they did allude to the fact that wording was so deliberately ambiguous with regard to the lease/ground rent that it was almost impossible to clarify. I never realised so many houses were leasehold till I watched the programme. In a way the buyer is completely stuffed because they factor in the costs of the ground rent before signing on the dotted line. And it's even more scandalous that the 'new' companies are hiking up costs when so little maintenance is carried out. The developers must be on a back-hander with the new freehold companies and it must be very lucrative, or they wouldn't deliberately choose to develop leasehold over freehold. So greedy! Should there be enough legal action against developers, I can see big problems arising in the property sector - all their own doing really. It's on a parallel with motorists being encouraged to buy diesel cars...

shovelier 03 Feb 2017

Re: Leasehold Scandal A large portion of blame must lie with the buyer's conveyancing solicitor for not making the buyer fully aware of the situation and all its implications.When I've bought 'buy to let ' properties ( all flats in blocks) I've always been offered the freehold a few months into he ownership as this, I believe, is a legal requirement often process. Usually the leaseholders ont bothe andthefreehold goes to a property management company such as OM. Traditionally flats in blocks have always been leasehold due to the difficulty of managing the common parts in separate ownership and detached properties have been freehold as it's much more straightforward.On the Victoria Derbyshire show the woman who featured as a first time buyer should have been more aware of what she was getting into. If you're struggling that much o raise the money then be a bit more careful about what you're buying. The carrot for someone in that position is of course that the purchase price is slightly lower as leasehold than it would be freehold making it more affordable. The guy with the frizzy hair who was interviewed seemed a bit more clued up.IMHO it is rather underhand to be jacking up the ground rent to the extent that the sharks in the businesses are doing.

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