Published on: February 12, 2019
Local hero
Scotland’s only quoted housebuilder is pursuing a more rapid growth strategy than most of its larger UK peers, benefiting from an arguably greater underlying need for housing north of the border and a differentiated model, based on its local roots and knowledge. Its acquisition of Walker Group and innovative approach to private and affordable development should bolster its opportunities, while the Scottish industry does not appear to face the same margin pressure as southern peers. Springfield Properties’ PTBV of 1.46x is a significant discount to the average for UK national builders.
