By Tom Winnifrith | Sunday 5 June 2022
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
You may have heard the other day that the latest Nationwide house price survey observed that apparently annual house prices rose by 11.2% in May, making the average UK home costs £269,914…or a mere 6.9 times average earnings. I am sure many people are excited about this but most probably know the reality of significantly slowing - if any! - house price growth over full year 2022. Spot the impact of higher interest rates and a slowing economy… And on possibly related factors I read in the press today that the “titan housebuilder Barratt (BDEV) is planning to begin a search for a new chairman, with City grandee John Allan to step down”.