Bovis Homes says market remains stable

11th May 2011 08:41

Housebuilder Bovis said the market has remained stable with visitor numbers for the year to date remaining over 20% ahead of the prior year.However, the group noted that the housing market continues to operate well below historical activity levels and warned that without improved availability of high loan to value mortgage finance, it expects that market activity will continue to be constrained. Bovis said it achieved 566 private net reservations to date in 2011 compared to 505 in 2010 with an average private sales rate of 0.47 net reservations per week per sales outlet compared to 0.44 last year. At 6 May 2011 767 private reservations were held for 2011 legal completion, compared to 964 private reservations at the same point in 2010. "The group is progressing well with its growth strategy to increase volumes, driven by a greater number of sales outlets and its bias to traditional housing sites with higher sales prices," the group said in a statement.CJ