I’ve no idea whether we’ll see a stock market crash this autumn, but if we do, I’m ready for it. I’ve identified three UK growth stocks I’d love to add to my Self-Invested Personal Pension (SIPP) but look a little pricey. If a market dip makes them cheaper, I’ll swoop.
1. Games Workshop Group
Games Workshop Group‘s (LSE: GAW) been on a tear since joining the FTSE 100 last December. The Warhammer-maker posted record annual results in July, with pre-tax profits up 29.5% to £262.8m. The shares are up 38% over 12 months, despite a small (5%) dip over the past month.
The stock’s a little cheaper than a month ago, with a P/E of 27.1. That’s still well above the average FTSE 100 P/E of around 15. Its trading update on 17 September showed it’s on track to hit full-year targets, and there’s income too. Shareholder payouts total 225p for the year to June 2026, more than double the 100p declared at the same stage last year.
Games Workshop has a loyal but niche fanbase. There are risks of alienating them as it looks to broaden the brand appeal, including through TV streaming. Yet I’d consider buying if the next dip hammered its valuation a bit more.
2. RELX
I’ve had RELX (LSE: REL) on my watchlist for two years. The information and analytics giant provides subscription-based decision tools to clients in more than 180 countries. Over five years, the stock’s up 95%, although it’s down 4% over 12 months.
That’s largely down to a 12% drop in September. Half-year results on 24 July looked strong, with adjusted operating profits rising 9% to £1.65bn and a 7% hike in the dividend to 19.5p. But with expectations high, the RELX share price slipped. With a P/E of 29.5, it’s still on the expensive side.
There are risks. Corporate budgets are under pressure from sticky inflation and high interest rates. Questions also remain over whether artificial intelligence (AI) will strengthen RELX’s offer or allow clients to replicate services in-house. Still, the company’s track record of 14 consecutive dividend increases makes it a hidden income play. The trailing yield’s 1.81%. I’d like to buy, but only at a cheaper entry point.
3. Halma
Global health and safety technology specialist Halma (LSE: HLMA) is another long-term winner I’ve been tracking. The share price is up 27.5% over the past year and 60% over two.
Again, the valuation looks challenging. Halma currently trades at nearly 36 times earnings, the priciest of the three. Its trailing yield’s just 0.69% but the board has lifted dividends for an astonishing 45 years in a row.
Still, it’s one of those businesses that seems to keep delivering. There are risks, as ever. Currency fluctuations and tariffs could take a bite out of performance. If a market sell-off trimmed that valuation to something more reasonable, I’d be ‘in like Flynn’.
All three of these stocks are worth considering for patient long-term investors. If we do get a meaningful dip, I won’t be able to stop myself.
