Bovis Homes, the house builder, has announced upbeat figures, adding to optimism about the future of the housing market. It saw sales increase by a quarter during 2009.
Its average sale price went up by 2.5 per cent to ?154,600, and the average home was priced at ?165,500. The result of the increase in sales and these sale prices meant that Bovis?s annual pre-tax profit would meet its expectations.
The house builder?s sales figures were 754 completions in the first six months of the year, with another 1,049 in second half. That was a 39 per cent increase from one half of the year to the next.
The overall figure for the year of 1,803 was down on the 1,817 achieved in 2008. However, private sales of 1,527 were up by 25 per cent. Also, private home reservations were up to 1,801 ? around 82 per cent higher than in 2008.
Bovis?s trading statement on Friday morning said: ?The group continues to expect trading conditions in 2010 to be subdued relative to historical levels, given ongoing economic uncertainty. Mortgage approval volumes are slowly rising, but mortgage providers continue to require record high levels of deposits, particularly from first-time buyers. This all said, longer-term market demand and supply trends remain positive.?
Bovis Homes also said that orders for 2010 were already up by more than 50 per cent, with 643 homes on the order book at the end of the year ? 218 more than a year ago.
Balfour Beatty also reported that its 2009 order book was on course to meet expectations. It said that in spite of economic uncertainties, it remained confident, and its finances were still strong.
