Even before the Prime Minister told workers to get on their bikes and get back to work on Sunday night, most large housebuilders had announced plans to reopen their construction sites.
Although these firms were not formally required to close during the lockdown, most did so. But they’ve assessed the situation and devised COVID-safe working practices that will enable them to get back to work.
One of the latest to reopen its building sites is my subject this week, FTSE 250 group Countryside Properties (LON:CSP). Is this really the right time?If you’re a regular reader, you probably won’t be surprised to learn that I have a fairly bearish view on the outlook for the housing market. But I’ve been wrong on this many times before. I’m also conscious that housebuilders are coming into this crisis with robust balance sheets and a healthy backlog of orders. I don’t expect to see any of the big players collapse or need refinancing, eliminating one major investment risk.
Countryside Properties has popped up in the results of the SIF screen recently, prompting me to take a look. It turns out this firm’s business model is a little different to some rivals,…
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