The builders provided the market’s main excitement with a triple-dose of good news lifting the sector.
If demand for new build housing is sentiment-driven, then the mood recently has been dominated by Brexit.
READ: Help to Buy underpinning new-build boom, says Berenberg, as it urges investors to plough into housebuilders
So, the UK seemingly stepping away from a no-deal departure from the EU provided some support for listed groups such as Barratt Developments PLC (LON:BDEV), up 1.9%, and Taylor Wimpey PLC (LON:TW.), ahead 1.5%.
A note from HSBC, meanwhile, took a good look at the longer-term prospects of the quoted builders.
“We now see a lighter than we initially expected correction in southern England in 2019 for new house prices at 2.5-5%, based on recent evidence of a shift to house ownership from renting for 35-44-year-olds, which is also evident in housebuilders’ resilient sales rates, despite the Brexit consumer gloom,” HSBC told clients.
“We expect sustained low mortgage rates and the government Help-To-Buy equity loan scheme to maintain the market share gains of new homes.”
Crest has also pressed the reset button on its strategy to focuses on shareholder returns by prioritising cash flow and dividends.