nice starting point..

Just browsing at land prices and came across this prime plot of land in Grantham>
.
Size: 0.6 acre
Land Type: Residential Development
Planning Permission: Detailed Planning Permission
Description: This DPP is for 5 town houses over 2.5 floors in a conservation area in the town centre. The price includes an end terrace house with 6 double bedrooms. This is at the main entrance to the site.
Guide Price: 900,000
Now I have no further info about the Development but I would guess you would need to find a total of around 1.7-1.8ml to see the project throughand that is with good Merchants accounts.also a lot of pound notes sitting around from start to marketing and sell .plenty of work with time scales of completion from six months - ?.and marginscould be fu*k all
Now from a thickos point of view900,000 suggests that land is still not at a realistic price Barratts and other large house Builders with far larger projects have not written down their land banks sufficientlyI believe it was around billion BDEV last yearit is no coincidence that Builders Merchants are suffering big timewhich suggest to me a few more years of pain to large developers add to the fact they are continually finding it difficult to bankroll projects on any terms then end up virtually devalued on projected completion estimatesas opposed to the plus 10-20% increases they enjoyed in the past prompting sells at plan stage...I have not read their half year report and sector to swerve I fear!

prime plot in Grantham? ..... an oxymoron of the first order!

Ok CynicIm sure you get my meaning.

you do have a way with words cynic.......

My fault Balershould have found a nice plot in Slough.then he could have left the oxy off.

except they would have called it Farnham Common!
i take it you are not enamoured of housebuilders ..... i happen not to concur

Cynicnot at all true.I thank them dearly for building my houseI just believe they were caught out being a little greedyaccumulating large land banksnine times out of tenwith inviting backhandersand buying friends in Councils.they will be back in vogue.

And let me make this crystal clearBarratts did not build my housejust trumping any funnies!.

Broker note from Panmure Gordon today:
"We have upgraded our recommendation on Barratt from Hold to Buy following its interim results. While markets remain fragile, the group has clearly benefited from improving market conditions over the past few months and an ongoing focus on cost and efficiencies. Our target price has moved from 172p to 180p and reflects a 15% discount to our FY 2010E NAV of 210p."

I posted this on another thread 2 days ago.---'I struggle to understand broker recommendations, today Panmure Gordon have a hold rating on BDEV and a target price fully 50p above it's current level of 121p, why not a buy? I don't hold these or any hb's for that matter, I still feel there is more downside to come.'
2517

Broker note from Liberum:
"Barratt Developments (Buy, TP 162p) - Shares +5% on vague talk of interest from Persimmon. Extremely low quality rumour, in our view, - if Persimmon had a target in mind at all for later down the line, it would more likely be a smaller name (eg Bovis) or preferably a land deal via the banks, we would imagine, but as per management comments in the sales presentation here on Monday, the short-term priority for the group is further cash generation and focusing attention on opportunities in its strategic landbank."

Investors Inteligence bullish on the housing sector....

Taylor Wimpey, for instance, rallied almost 10% last Friday on such optimisim. Mirroring the US homebuilding index, its share price looks like it could break out of the base, thus ending the great bear market.

In a similar vein, Barratt Development lies just above 100p and could easily move up 50p on momentum buying. Breaking the 200p level in this current upleg, however, is harder to say.



We add a long in Barratt and Berkerley.

140p is a resistance level.

resistance is futile :-)

Yep usually turns to support.

Bring it on.

Barratt Developments ST: above its upper Bollinger band
26 Apr 2010 - 09:19

Click here to see our chart:
http://www.tradingcentral.com/chart/BDEVGBp100426101746.gif
Our pivot point stands at 128.25.
Our preference: the upside prevails as long as 128.25 is support.
Alternative scenario: the downside breakout of 128.25 would call for 121.75
and 117.75.
Comment: the RSI is above its neutrality area at 50. The MACD is positive and
above its signal line. The configuration is positive. Moreover, the stock is
trading above both its 20 and 50 day MA (standing respectively at 125.63 and
122.32). Finally, Barratt Developments has crossed above its upper daily
Bollinger band (134.7).
Supports and resistances:
157.25 *
153 **
148.75
139.9 last
130.75
128.25 **
121.75 *
---
TRADING CENTRAL is a commentary service specialising in technical analysis.
For sales enquiries please call your Reuters account manager or TRADING
Central
by phone: New York (1) 212 812 2400 Ext 29, London +44 (0) 207 429 3980 or

Resistance is never futile...

Broker slapped a Buy rating on it late Yesterday, missed it at the time......

Barratt Developments PLC

FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Panmure Gordon
28-04-10 BUY -38.50 -3.58 1.34 0.14

(hemscott premium)

Lovely upgrade from Davy Stockbrokers forecasting EPS of 5.8p going into 2011, thats one heck of an upgrade and it will appeal as Panmure G upgraded yesterday aswell.

Barratt Developments PLC

FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Davy Stockbrokers
28-04-10 None -3.50 5.80

(hemscott premium)

Interim Mangement Statement.

Highlights



For the six months to 30 June 2010 average selling price is expected to increase by around 15% on the prior year equivalent period (at least 10% for the full financial year), largely due to mix changes

The Group is on track to deliver a profit (Note 1) for the second half (2009: 63.5m loss)

Net private reservations per active site for the IMS period up 4% on the prior year and up 14% on the first half

Total forward sales up 32% on prior year at 1,073.3m

Continuing to acquire land at attractive values, with terms agreed on 447.8m of land equating to 12,286 plots since mid 2009

Net debt as at 30 June 2010 is anticipated to be around 500m, below previous guidance due to the deferral of land payments