WHAT'S NEW?

October 2008 – European Real Estate and Construction Outlook

Everything you wanted to know, but were afraid to ask. Call us or email for a copy of this presentation. See Papers and Contacts.

October 2008 – UK Construction Output further and further in the red

The latest forecasts from Experian/CFR – where Building Value’s Tony Williams is an advisor – are now even gloomier. Indeed, after 2007’s growth of 2.4%, the current year looks set to ease back by 0.7%, due pretty much to a 25% collapse in private housing. In 2009, total output is scheduled for a 3.1% fall, including the first dip in commercial work since 2003. Thereafter, 2010, is expected to be only flat (i.e. +0.1%) albeit that infrastructure does well and private housing should be off the floor. In our view, it will take the London Olympics and Crossrail to truly lift the industry out of its current malaise.

October 2008 – Stephen Stills

Yes, he is still upright, and although the voice is a bit knackered, it’s still Mr Stills; and his guitar playing remains breathtaking. Building Value Directors added to the Shepherd Bush Empire audience’s palpable affection. PS: Frank Turner; and Biffy Clyro are our next outings.

October 2008 – UK Housebuilding Sector: Q3 2008 relative performance and comment

We publish a regular quarterly commentary on the UK Housebuilding Sector (which is available on request). The latest issue looks at Q3 which was less about headlong collapse – and more about old fashioned despair. BVL has also looked in detail at the dynamics of UK housebuilding – and copies of this tomb are for sale. See Papers.

September 2008 – UK construction outlook at ‘Building’ magazine conference

BVL’s Tony Williams talked in detail to a powerpoint presentation on the prospects for UK construction out to 2010. The conference was organised by ‘Building’ and the law firm Pinsent Masons. Copies are available.

June 2008 – European construction growth is forecast at less than 2% per annum through 2010

Euroconstruct, the premier forecasting unit for European construction activity, published its latest numbers for 19 countries in Rome this month. These showed that 2007 (with +2.7%) was the 14th year of uninterrupted European growth. However, the current year will be negative (at -0.3%). Herein, Ireland, Finland and Spain are the worst performers with Central & Eastern Europe the best (Poland in particular). Overall growth is flat (at +0.2%) in 2009 with the same trio of nations continuing to fare badly. In 2010, growth is scheduled to be +1.6% with national plus signs across the board save for Denmark and Finland.

March 2008 – Neil Young

Yes, the old war horse is still going and was in sublime form at the Hammersmith Apollo in mid-March. The entire Board of Building Value was moved.

January 2008 – “Stormy Monday”

Here we examine the post-credit crunch outlook for European Construction and Real Estate and conclude that it is not a re-run of the early 1990s (see Papers).

January 2008 - Sector structure and 36% value decline

The value of the quoted UK construction and building industry fell 36% last year to Ł39.7 million which means that the entire industry is now worth the same as a single mining stock: Anglo American plc (see Papers).

October 2007 – Cowboy Junkies ft. Ryan Adams; plus Editors

The Royal Albert Hall was the venue and not only did the CJs play their first album in its entirety, but they were handsomely bolstered by the presence of Ryan Adams, the melancholic alt-country star (who should never be confused with Bryan Adams). The Building Value Board was overcome. On the previous night, it was the superlative Editors at the Brixton Academy. Busy week.

September 2007 – The future of UK builders merchants

In this paper, we examine the consequences of a rapidly concentrating supply side where some four-fifths of the market is in three pairs of hands (see Papers).