Housing conditions remain positive for Bovis Homes
Bovis Homes Group PLC held it’s Annual General Meeting yesterday in Tunbridge Wells where the following update was given regarding current trading and the outlook for the financial year. ( Update in full visit Bovis Homes Group PLC website)
Current trading: Housing market conditions remain positive with strong demand from home buyers who are benefitting from good access to mortgage finance. Sales prices continue to show levels of sustainable growth driven by our improving mix of homes.
Weekly sales rates have improved in recent weeks and in the year to date we have achieved 0.65 net private reservations per site, which is now in line with last year. They have launched 17 new sites for sale with many sites acquired in 2015 now launched and selling well. A number of sites have sold out earlier than expected and, as a result the total number of sales outlets has remained broadly constant over the year to date. The forthcoming EU referendum has had no discernible impact on their business with strong demand across all our operating areas.
David Ritchie, Chief Executive, commented: “We have been trading well with positive market conditions supporting activity levels and we are on track to deliver our planned growth for 2016. We continue to drive improvements in our operations across the enlarged business with strong investment in our people and focus on delivering value across the Group.”
To read the full Bovis Homes Group PLC AGM statement click here