Home builders and developers in the U.K. posted gains after several days of losses amid fears that Brexit will trigger a commercial real estate and residential properties price crash.
Home builders Taylor Wimpey (TWODF) and Persimmon (PSMMY) were the second and third-largest gainers on the U.K. leader board after Anglo American, rising almost 6% apiece.
Land Securities (LSGOY) and British Land (BTLCY) were both recently up well over 4%. Great Portland Estates (GPEAF) was up more than 3% even after warning on Thursday that Brexit uncertainty would hurt the London commercial real estate market. Six property fund managers have this week suspended redemptions on commercial real estate funds.
But Macquarie analysts on Thursday published a reassuring note about the sector: "We do not expect a wholesale property crash," they said, noting that residential property yields are well above 2007 lows and commercial real estate yields "look far from demanding."
Bank Negara Malaysia decided to reduce the Overnight Policy Rate (OPR) to 3% at its Monetary Policy Committee (MPC) meeting on Wednesday on rising risks from Britain's exit from the European Union! Buy Properties counters!
Yes agree with kai, if you have housing loan you will find out that the bank is increasing the interest rate starts from a few months back, same with the hp (car) loan. So what is so great about the 0.25 point opr reduce.
who cares about blr or br. we only care about the stock price. sentiment is good now, we earn money, we run. you want to fall in love with the counter??
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
haikeyila
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Posted by haikeyila > 2016-07-05 10:50 | Report Abuse
UK Property Fund shuts withdrawal due to fear of property crash: https://www.theguardian.com/business/2016/jul/04/standard-life-shuts-property-fund-post-brexit-withdrawals
Still not worried?