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May 5 2023, 07:00 IST/BST
Disruptive Technology
April UK housing snapshot: stubborn kind of fellow
- Sectors : Disruptive Technology
- Companies : Purplebricks Group plc | Rightmove plc | OnTheMarket plc
Ratings
Ratings and price correct at time of issue
| Company | Rating | Date | Previous Rating | Date | Closing Price |
|---|---|---|---|---|---|
| OnTheMarket plc | NEUTRAL | 09/08/22 | N/A | N/A | 70.5p |
| Purplebricks Group plc | OUTPERFORM | 06/03/23 | Neutral | 24/01/22 | 6.4p |
| Rightmove plc | OUTPERFORM | 24/01/22 | N/A | N/A | 574p |
DAVY VIEW
Mortgage approvals continue to recover (up 18% in March) – are we seeing demand outweigh the macro forces in a characteristically stubborn UK housing market? Approvals remain historically low, but they are not screaming ‘doomsday’ like many market commentators suggested. Great news for estate agents, able to keep trading, and Rightmove (RMV) is perhaps insulated from a fall in subscribers.
