You can see why Vistry isn’t willing to hang on for a recovery in the housing market, even by 2025. That was the proposed deadline for a decision on whether to stick with or hive off its private housebuilding business from its core affordable housing unit, if the share price is still in the doldrums.
By switching sites that had been earmarked for building homes for the open market to mixed-tenure development, Vistry will focus solely on partnership work, a lower-risk approach than trying to find a buyer for the private housebuilding business. The shift, under which 32 sites will be cut down to 27, should be completed by Christmas.
A near-13 per cent share price bump has closed the discount embedded against the book
