Thursday, 19 January 2017

Completions trend continues

Bovis Homes has become the latest major house builder to announce an increase in housing completions.

The firm, in a stock market announcement today (15 January), announced it completed 3,934 homes in 2015, an increase of 8% on the previous year.

The announcement followed similar statements announcing increased completions in the last fortnight from Persimmon, Galliford Try and Barratt.

Bovis said its number of completions – a record for the firm – has driven a significant increase in revenue and pre-tax profit. The firm will reveal more detail in its final results, which are due to be published on 22 February.

The statement said: “Current housing market conditions, together with our improved forward sales position and anticipated growth in average sales outlets, support our expectation of continued growth.” 

Despite the increase in housing completions in 2015, data from the Office for National Statistics today showed a 1.1% reduction in construction output in November compared to the same period in 2014.

 

INCREASED COMPLETIONS: RECENT ANNOUNCEMENTS

Galliford Try: 1,603 completions in the second half of 2015, a 4.8% increase

Barratt: 7,626 completions in the second half of 2015, a 9.4% increase

Persimmon: 14,572 completions in 2015, an increase of 7.8%

 

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