25
Sep
"Encouraging signs" in the property market
Independent estate agents may be pleased to read
that the last eight months have seen increasingly encouraging signs
returning to the residential property market, according to one
housing expert.
Nick Whitten, business editor at national news provider
Construction News, said that confidence is increasing among those
who work in the property industry, such as housebuilders.
"I would think many investors in the City will be looking closely
at these firms whose shares took a battering but could be set for
better times ahead," stated Mr Whitten.
His comments follow the release of Barratt Developments and
Redrow's] plans to raise millions of pounds of funding via
investment.
The Board of Redrow announced proposals for a 13 for 14 Rights
Issue to raise net proceeds through the issue of 148,584,705 new
shares.
Meanwhile, Barratt confirmed that its forward sales in late June
were £464.3 million, representing 3,328 plots, while by
mid-September such sales had increased to £733.4
million.
