News Tag: cancellation
November 19, 2009
Barratt Developments is to focus on building houses rather than apartments, in response to lenders' preferences.
The group's chief executive, Mark Clare, says the company will build what it knows it can sell and in the case of apartments, lenders are making life difficult for mortgage borrowers by asking for deposits of 25%.
The oversupply of new-build apartments in the UK's ...
Barratt shelves apartments as lenders prefer houses
by Gill Montia
April 24, 2009
Persimmon has added to signs of recovery in the UK housing market by reporting improved results for the first quarter of 2009.
However, chief executive Mike Farley has warned that the market is still fragile, with sales down nearly 30% year-on-year to £960 million.
Visitor levels were down 15% compared to a year ago, although the company described this as "resilient" given it now ...
Persimmon cautious as recovery beckons
by Gill Montia
October 28, 2008
Persimmon has reported that its cancellation rates have risen to 35%.
In an interim statement, the housing developer said that the number of potential buyers who put down deposits of up to £700 on new homes and later withdraw, is now around 20% higher than its pre credit crisis average.
Describing trading conditions as having deteriorated since August, the firm referred to the uncertainty created ...
Persimmon’s cancellation rates soar
by Gill Montia
