Are the shares of UK housebuilders cheap? Or cheap for a good reason?
The brokers that cover the sector have given their answer. Exclude Berkeley Group (BKG), whose exposure to a jittery prime London market puts it in a separate category to the national developers, and there are seven housebuilders with a market capitalisation of at least £2bn. Within this clique, 85 of the 101 research reports carry a ‘buy’ or ‘overweight’ rating. None are listed as a ‘sell’.
