Not buying, just holding at a big loss. Tempting to pick up some with the price so low but just don’t feel so confident about property right now.
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My avg is around £13.00 bought around the time of the divi cut, also holding some TW. Expecting to hold both for a couple of years. Think the (further) expected interest rate rises are probably holding these down.
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I hold both of these also and agree about the rate rises holding them back. Long term holds for me PSN were 32 quid two years ago.
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How low does anyone think Persimmon will go, I figured the assets value supported a price of £11+, but if the assets become valued at -20% then I guess it could be £9 or less if the pricing over shoots?
Just reading your info, i am starting to think more about investing in PSN, and although you are already invested, continuing to invest now will bring your average price down. All your points about PSN still stand - zero borrowings, demographics etc
I think the share price will be in for a rough time for 1,2 or 3 years, but will rebound sharply at some point.
If you have conviction and importantly time it will come right, IMO and of course DYOR
Why invest then surely theres potentially better investments to go for if you think this. Do you want tie your money up for 3 years with potentially no return if you think there in for a rough time.
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It depends i guess in what return you expect after 2 or 3 years, 15% after 3 years can be achieved in a bank account, so the expectations are in excess of that.
Asset values are very hard to determine when prices are under such pressure. The dividend will be cut to a wafer. Unless you hold house builders and are cost-averaging I wouldn’t be opening a position. Even if you felt you could analyse their assets the market will under value the business due to headwinds.
Margins are under huge pressure and volumes aren’t going to save the day either.
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Tim T is a wise owl, psn shares spiked to about £33 three years ago.
I’m not saying the shares will return to that level but given his three year time frame hopefully the economy is in a healthier position, I can see the price doubling with dividends being paid on top.
Too many people looking for a quick buck, investing is for the long term in my book.
Have a nice July when it comes humans 
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When interest rates were a third of their current levels, overheads were 15%/20% cheaper than they are, help to buy was a money printing machine and house prices were only going up.
As someone who works in this industry for a PSN competitor, I can tell you the headwinds are the same across the business. The total was year-end/half year-end for most if not all of the big builders - they’ll update the city in the coming weeks but I doubt it’ll be pretty reading.
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You’re talking as if the market will never recover, of course it will. British people have aspired to own their own home for decades and that’s not going to change, yes it will take time, the shares are a long term hold.
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Hey all quick question according to FT the P/B ratio is less than 1.
Does that mean the current share price values the company less than the value of its assets (I.e land)?
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Hyseb-21 yes i think that is correct. Of course the main assets are the land bank they have and that could be down valued in a recession or if and when the house market takes a dip. I think Persimmon is a good buy for this reason.
Oh dear £9.70 per share!
Morning all. Crazy to think we’ve gone from 9.70 per share back to 12 in 14 days.
Hopefully this will be a bit more stable now, I’d be happy to top up at these prices
And you were not at 9? 
I did buy at 12. Should be a fine long term hold.
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lol true unfortunately I missed the boat at 9. Why do the prices always go up just before I get paid!
PSN is my biggest holding by far, I got a bit too excited averaging down. Long term hold for sure fingers crossed we get another dividend at the end of the year.
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Hello all Persimmons half 1 results are in.
Profit before tax is down to £151m which to be honest could have been much worse (EPS of 35p per share).
Cash is £360m which is half of this time last year with a declared interim dividend of 20p per share.
All in all not too bad considering current market conditions.
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Still got these but don’t feel like selling them for such a big loss so will try not to look at them for a while…out of sight, out of mind 
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Another fall from grace for souless cheap new-builder. Its ok the UK will still be able to compete on the world market with the likes of Moonpig and 888 in the top 100 (said with sarcasm) 
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