FTSE 250 movers: Homebuilders pace gains
Sharecast
Published May 12, 2023 16:04
FTSE 250 movers: Homebuilders pace gains
Sharecast - In particular, they said that the worst-case scenarios for house price deflation had been averted.
They also noted the relative improvement over recent months in sales rates, which supported pricing, and predicted modest build cost deflation for 2024.
Affordability had also improved with mortgage payments having fallen to approximately 40% of a typical new homebuyers' earnings, they estimated.
A "material" fall over time in average land prices and new government support measures for the new-build housing market were also anticipated.
The analysts significantly marked up their target prices for all the stocks in their coverage universe and upgraded both Crest Nicholson (LON:CRST) and Redrow (LON:RDW) to 'buy'.
FTSE 250 - Risers
4Imprint Group (LON:FOUR) 4,535.00p 7.98%
ASOS (LON:ASOS) (ASC) 530.20p 6.04%
Bakkavor Group PLC (LON:BAKK) 96.40p 3.66%
Redrow PLC (LON:RDW) 528.50p 3.02%
Crest Nicholson Holdings (CRST) 262.20p 2.58%
Molten Ventures PLC (LON:GROW) 266.60p 2.07%
Lancashire Holdings Ltd (LON:LRE) 620.00p 2.06%
Mitchells & Butlers PLC (LON:MAB) 196.80p 1.92%
Bellway (LON:BWY) 2,440.00p 1.58%
Aston Martin Lagonda Global Holdings (AML) 206.40p 1.57%
FTSE 250 - Fallers
Ferrexpo (LON:FXPO) 106.80p -3.26%
NextEnergy Solar Fund Limited Red (LON:NESF) 104.30p -3.25%
Great Portland Estates (GPE) 495.20p -3.19%
Derwent London (DLN) 2,202.00p -3.08%
Essentra (ESNT) 201.50p -2.66%
TUI (LON:TUIT) AG Reg Shs (DI) (TUI) 512.60p -2.62%
Helios Towers (HTWS) 91.70p -2.29%
Abrdn Private Equity Opportunities Trust (APEO) 448.00p -2.18%
Indivior (INDV) 1,496.00p -1.90%
IntegraFin Holding (IHP) 284.20p -1.86%
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