Kier's housing division stablilises

9th Nov 2009 07:32

Contractor and housebuilder Kier is seeing a more stable picture emerge at its housebuilding arm with prices rising in selective areas.Kier said that overall first quarter trading has continued in-line expectations with cash balances at healthy levels, adding that while it remains cautious on the housing outlook for 2010, the private housebuilding market has now stabilised with price increases being experienced in selective locations. Elsewhere, construction order books are in line with previous years and equivalent to 96% of expected construction revenue for the year to 30 June 2010 and 55% of targeted construction revenue for 2011Partnership Homes had a strong start to the year. The total order book of reserved and exchanged units at 31 October is 14% ahead of the same period last year with completions around 73% of full-year targeted unit sales.