- The housing market boom amid the pandemic has been mainly led by stamp duty holiday, low interest rates, and change in work and lifestyle
- As per consultant firm TwentyCi, in Q2 2021 UK average asking price stands at £391,000, up by 8.3 per cent from Q2 2019
The housing market in the UK has witnessed a boom recently despite the ongoing pandemic due to covid-19 induced changes in work and lifestyle patterns such as seeking properties which have wider open spaces, low interest rates, and stamp duty holiday.
Currently, the UK’s average asking home price in Q2 2021 is £391,000, which is up by 8.3 per cent from the average asking price of £361,000 in Q2 2019, according to consultant TwentyCi.
In this article, let us take a closer look at some of the highest performing FTSE listed housebuilding stocks on an annual returns basis:
- Crest Nicholson Holdings PLC (LON: CRST)
FTSE 250 index listed company Crest Nicholson is a UK based housebuilding firm. It recently announced its H1 2021 interim results, where the company’s revenue rose to £324.5 million, up from £240.0 million in H1 2020.
Also, its H1 2021 home completions increased to 1,0171 compared to 775 in H1 2020.
Crest’s annual return stands at 82.19 per cent, making it one of the highest risers in the homebuilding sector in the UK. Also, its market capitalisation is at £1.019 billion. Crest shares year-to-date return stands at 17.84 per cent.
- Vistry Group PLC (LON: VTY)
Another FTSE 250 index listed housebuilder, Vistry Group announced in a trading update for the six-month period ended 30 June recently that its average weekly private sales rate rose by 10 per cent to 0.76 from the same period in 2019.
It also reported strong H1 2021 performance which was ahead of expectations due to positive customer demand.
Vistry’s annual return stands at 58.42 per cent and its market capitalisation is at £2.568 billion. Vestry’s year to date return stands at 19.64 per cent.
- Springfield Properties PLC (LON: SPR)
FTSE AIM All Share index listed Springfield Properties is a housebuilder focused on developing private as well as affordable housing cantered around Scotland. The company recently announced in a trading update for FY 2021, its revenue is expected to reach about £215 million, up by 49 per cent from the previous year. This is also expected to be the group’s highest ever turnover.
Springfield’s annual return stands at 97.66 per cent and its market capitalisation is at £173.86 million. The company’s year to date returns stand at 20.71 per cent.
- Redrow PLC (LON: RDW)
FTSE 250 index listed firm Redrow is one of the largest UK based housebuilders. The company recently announced in a trading update for FY 2021, that its reservations per outlet per week in FY 2021 rose to 0.70 from 0.67 from FY 2020, while the revenue per outlet per week was £288,000 from £259,000 in FY 2020.
Redrow’s annual return stands at 30.10 per cent and its market capitalisation is at £2.184 billion. The company’s year to date return stands at 4.81 per cent.
- Barratt Developments PLC (LON: BDEV)
Barratt Developments is one of the largest housing development companies in the UK and is also a constituent of the FTSE 100 index. The company recently announced its FY 2021 trading update, its net private reservations per active outlet per week rose to 0.78 from 0.60 in FY 2020, while its total homes completion volumes stood at 17,243 from 12,604 in FY 2020.
Barratt’s annual return stands at 22.42 per cent and its market capitalisation is at £7.00 billion.