bovis homes group
The UK’s Bovis Home Group have seen an increase in reservations for new homes in the first half of the year, but still see no signs of stability in the housing market.
Private reservations increased by 92% during the period up to June 2009 compared to the same period last year, but still amounts to just 901 homes reserved. Private completions rose by 18% but was offset by decline in social housing completions.
Completed sales fell by 11% to 754 homes accompanied by a fall in net sales prices of 18% reducing turnover, margins and gross profits.
“Activity has to increase before we can start to think about the housing market in general becoming a more stable place,” says Bovis CEO David Ritchie, although the company are bouyant enough to go into the second half of the year looking for development land and expect to meet it’s full year volume targets of 1,800 units, ‘if activity continues at the same rate.’
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