Barclays started coverage of various UK housing stocks last week, initiating ratings on companies such as Barratt Developments (LON: BDEV), Bellway (LON: BWY), Berkeley Group (LON: BKG), Crest Nicholson (LON: CRST), Howden Joinery (LON: HWDN), Persimmon (LON: PSN), Redrow (LON: RDW), Taylor Wimpey (LON: TW.), Travis Perkins (LON: TPK)and Vistry Group(LON: VTY).

According to TheFly, Barclays analyst Emily Biddulph initiated coverage on UK housebuilders and merchants with a Neutral view, stating that there is an “increasingly tough” near-term outlook. In addition, she sees meaningful house price declines by 2024 and weaker home improvement markets.

It’s something MoPh Markets agrees with, given the macroeconomic backdrop and recent online data we have seen regarding housing demand trends. However, the Barclays analyst wasn’t completely negative…

Barratt Developments was initiated with an Overweight rating and 509p price target by the analyst, who reportedly said that despite the negatives, double-digit price declines are already priced in and balance sheet strength “means it really is different this time.”

Barratt, Redrow, Taylor Wimpey, and Berkeley are Biddulph’s favoured housebuilders.

TheFly reported that Bellway was initiated with an Equal Weight rating and 2,250p price target, Berkeley Group was started at Overweight with a 4,350p price target, Crest Nicholson was initiated with an Equal Weight rating and 245p price target, Howden Joinery was started at Overweight with a 715p price target, Persimmon was initiated at Underweight with a 1,360p price target, Redrow was started at Overweight with a 565p price target, Taylor Wimpey was given an Overweight rating and 125p price target, Travis Perkins was started at Equal Weight with a 965p price target and Vistry Group was assigned an Underweight rating and 625p price target.