In a trading update for Q3, to 30 June, Watkin Jones has signalled £60m of new contract wins, further validating the UK’s leading developer and manager of residential for rent’s diversified growth strategy against the recent backdrop of slower investment in some of its core new-build activities. However, the appointment of recognised pro-development members to PM Andy Burnham’s new Cabinet and returning Housing Secretary Angela Rayner’s ruling out of rent controls bode well, in our view.