Citigroup expects next year will be another robust year in the UK housing market.
It has been busy revising its forecasts in the housebuilding sector to reflect its view that a soft landing in has already happened. It thought while earnings would be flat, net assets and dividend payouts would grow 10%-12%.
It cut its ratings on Barratt Holdings from “buy” to “hold” and moved Taylor Woodrow from “hold to buy”. Barratt closed down 1.4% at 935p and Taylor Woodrow 0.1% at 354p.
References: Financial Times 20/12/05 page 38 (FT Markets – London), The Daily Telegraph 20/12/05 page B11 (The Market)
