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Essentra remains an underfollowed FTSE 250 buy for me

By Chris Bailey | Friday 6 January 2023

Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

There are always plenty of unknowns in global investment markets and maybe 2023 has a few more than normal. However, the likely direction of UK housing market prices is not one of them, as the real question is how much prices will fall. I see the Halifax House Price Index is now only up 2% year-on-year, so it will either be one or two months before it formally goes into negative territory. Whilst some people will remain very excited that Halifax also noted that its index hit its 40-year anniversary “with house prices up 974% since early 1983", I don’t think UK house prices are going to get anywhere near such a price appreciation over the next forty years. It is great to own your home, but stop thinking about it as an investment. Housing rant over, so let’s talk about a stock whose prospects I like for 2023: Essentra (ESNT).
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