After a disappointing stock market performance last year, investors will be hoping the major listed housebuilders can turn things around in 2025.

Shares in Barratt Redrow (BTRW) and Berkeley (BKG) were down around 20% in 2024 while those in Persimmon (PSN) and Taylor Wimpey (TW.) lost just shy of 15% each.

Shares in partnership housing group Vistry (VTY) fared even worse, losing close to 40% after the firm warned three times in three months profit would be below expectations due to delays in year-end transactions and completions and serious mismanagement in its South division.

Both Persimmon and Vistry report fourth-quarter and full-year sales next week (on 14 and 15 January respectively), with Persimmon expected to post annual sales in the region of £2.9 billion, up slightly on the previous year’s £2.77 billion, and completions of around 10,500 units.

The firm said in November visitor numbers and new home enquiries were ‘strong’ and sales rates were ‘well ahead’ while average selling prices were ‘robust’ and the forward order book was 17% higher than the previous year.

Meanwhile, Vistry is expected to report sales of just under £4.5 billion for the year, up from £3.7 billion previously, and completions of 17,5000 with selling prices at a similar level to the prior year.

The latest surveys from Halifax and Nationwide provided a mixed picture, with mortgage affordability and the size of the deposit needed by first-time buyers proving a constraint on demand.

However, both surveys suggest upcoming changes to stamp duty are likely to generate volatility as buyers rush to complete before the end of March, leading to a spike in transactions, before a period of weakness for three to six months over the spring and summer (as occurred following previous stamp duty changes). 

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