Crest Nicholson has been building new homes for over four decades and is firmly established as a leading developer with a passion for not just building homes, but creating vibrant sustainable communities. Our mission is to improve the quality of life for individuals and communities, both now and in the future, by providing better homes, work places, retail and leisure spaces. Most importantly, we place our customers at the heart of everything we do.

Our development portfolio ranges from contemporary city centre apartments and townhouses to traditional detached family homes and complex regeneration schemes. The success of long term partnership developments such as Park Central in Birmingham, as well as innovative low carbon developments including One Brighton, ICON and Avante, underline the Group's determination to lead the industry in its quest to create innovative development solutions which positively contribute towards achieving a sustainable future.

In today's low carbon world, it is our unrivalled vision and values in design, customer service, innovation and environmental stewardship that set us apart. Responding to the challenges posed by climate change and urban renewal forms an integral part of our approach, positioning us well to lead in the complex and challenging process of delivering sustainable communities.

I am particularly proud of the recognition that we have achieved for our contribution to the built environment. To be bestowed with The Queens Award for Enterprise in Sustainable Development category in 2007 was a real honour. This 5 year accolade is proof of our continued commitment to producing high quality developments that champion the very best principles in sustainability and design. It demonstrates our unquestionable passion in delivering communities where people genuinely want to live, work and play.

Ultimately however, the greatest accolade comes directly from our purchasers and nine out of ten have said that they would be happy to recommend Crest Nicholson to a friend. While both the House Builders Federation and our own independent consultants verify that our customer satisfaction is improving year on year, we will not become complacent. Our priority is to continue to build on this track record and deliver our customers with a home and level of service that continues to surpass expectations.

http://www.crestnicholson.com/

Post-Brexit gloom about UK residential property has taken hold, with investors pricing in a 5 per cent fall in home values over the coming year.

Housebuilders have been among the stocks worst hit by the sell-off since Thursday’s vote to leave the EU. The decline has been fuelled by fears that uncertainty will prompt consumers to delay homebuying decisions, weighing on house prices, while longer-term economic weakness could also set in.

Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said the collapse in housebuilders’ shares — before a slight recovery on Tuesday — was “consistent with a 5 per cent fall” in the prices of homes over the coming year.
He added, however: “I think they will fall, but 5 per cent may be overdoing it. The market overreacted in the initial panic. Prices may fall 2 to 3 per cent over the next 12 months.”

Shares in the UK’s four-largest housebuilders have fallen between 28 and 37 per cent since the referendum, as investors once enamoured with the sector have fled en masse. The companies’ shares had risen steadily over the past three years, boosted by a housing shortage, strong demand, cheap credit and government-backed homebuying schemes.

On Monday, trading was briefly suspended in Barratt Developments, Crest Nicholson, Taylor Wimpey and Berkeley Group after each of them dropped sharply enough to trigger a FTSE 100 “circuit breaker” mechanism. The market found some relief on Tuesday with a trading update from Redrow, a FTSE 250 builder, which said its results were set to come in at the top end of expectations for the year to June.

“Although it is too early to tell whether Brexit will have any effect on future sales, initial feedback is that sites remain busy, reservations continue to be taken and, indeed, we witnessed long queues and strong reservations at new sites launched last weekend,” Redrow said.

The Flintshire-based company said it had experienced no slowdown in the run-up to the Brexit vote, but Berkeley — known for its high-end London developments — said earlier this month that its reservations dropped 20 per cent in the first five months of 2016 from a year earlier.

In depth - Brexit

The housing market in London had already begun to stall before the vote, after stamp duty on expensive homes was increased and demand from overseas buyers began to wane. This prompted short-sellers to target shares in developers such as Berkeley from the start of the year.

“The London market was starting to slow anyway. A lot of the cards are stacking up against London, before we overlay the uncertainty of Brexit,” said Richard Donnell, research director at Hometrack. Crest Nicholson, another FTSE 250 housebuilder, said ahead of the vote that it would halt land investments and recruitment for three to six months while taking stock of the market if the UK voted to leave the EU.

Market observers now expect that the post-Brexit uncertainty will cause an initial chill in the housing market as consumers defer decisions. But the longer-term impact will depend on the economic fallout, potential interest rate rises, and to what extent London can retain its status as a global financial centre.

Analysts at Bank of America Merrill Lynch expect a 10 per cent drop in transaction volumes combined with a 10 per cent house price correction over the coming year — among the more pessimistic forecasts. Charlie Campbell, analyst at Liberum, said real house prices had fallen 3-3.5 per cent in 2012 and 1996, both years of economic downturn.

Housebuilders with strong levels of forward sales, such as Bellway, Redrow and Berkeley, are better positioned to weather short-term uncertainty, he added.

Investors had piled into housebuilders in recent years — more than doubling valuations between 2011 and early 2015 — as they strengthened their margins and many groups, such as Berkeley and Persimmon, announced multiyear programmes of dividend payments to shareholders. Mr Campbell said these would likely still go ahead: “Housebuilders’ balance sheets are much stronger and in a much better position to withstand shocks than in 2008 and 2009. With a bit of luck, I think the dividends will get paid.”
He noted, however, that the market must still contend with extreme levels of uncertainty, as the UK faces a political vacuum as well as a changed future in Europe.
“There are a lot of unknowables, and political jitters make quite a difference. You wouldn’t normally get people rushing in to buy housebuilders with no government in place,” he said.

re - plus side

We are there now +3.20p as the order book is very strong on the bid side

DEPTH double the amount trades on the bid side

Thank you mentor saw your post here and bought in this am. Nicely in profit now.

Ditto mentor, well spotted and thank you also got in at 337.20 at 10.40 this morning.

Good on you to spot the bargains and put some money on them

the bounce is on, for how long is another thing

Close at best of the day, good enough being the first day of bounce, and only went over to the plus side after 2pm

UT @ 364.30p with a large trade 445K

16:35:14
364.30
445,370 UT

I've locked 20 pips in mentor spread bet.

Stopped out at the open @354.72.

By Motley Fool | Thu, 30th June 2016 - 13:37

Build a fortune

The entire housebuilding sector also remains under the cosh as the possibility of higher mortgage payments and diving home prices has weighed.

But I believe the likes of Crest Nicholson (LSE:CRST) remain lucrative long-term stock candidates. After all, Britain's housing shortage isn't going to go away in a hurry despite government pledges to boost construction activity.

Against this backcloth, Crest Nicholson is expected to pay a 27.6p per share dividend in 2016. And a subsequent yield of 8% merits serious attention, in my opinion.

Is spiking again after yesterday's profit taking up 12p at the moment as the order book got very strong on the bid side

and again as is breaking above 370p and now at 373.80+17.80 (+5.00%)

order book, double the DEPTH on the bid side

Well done mentor! If this bounce is for real then plenty of time to get back in.

gone over 380p now and trading at 381.30 +24.90 (+6.99%)

over 390p now 390.60p 34.60p (+9.72%)

will it reach 400p today or We'll wait until Monday?

I can wait. Nice one.

re - 400p

It did reached there with an "AT" 400p, but as soon that trade was done, all the way down to 395p, let see now the UT price as a closing price
..........and is 395p also

16:35:02
395.00
283,817 UT

note
01-Jul-16
16:23:05
400.00
21,070 AT
there was a spike during that time, and manged the 400p, meaning a rise of 10p on 30 minutes, when during the afternoon was rising at a rate of 10p every 2 hours

It is a dead cat bounce for CRST... 352p now.

Will be interesting to see where the support level is for the house builders. No way of knowing if the sector is oversold at the moment.

the dead cat needs a live mouse

Not too worry about the others I did cash my chips yesterday @ 392.20p
and soon ready to pounce again, at the moment the order book is too volatile and still weak most of the time. 29 v 38

All the house builder were knocked yesterday and again today after the construction report.......... Construction PMI hits seven-year low