A housebuilder focusing on the Central Belt has seen income jump by nearly half in its latest financial year.
Avant Homes Group, which has its Scottish head office in Stirling and 12 of its 52 outlets north of the Border, said sales in the 12 months to 30 April showed a year-on-year jump of 44 per cent to £368 million, with the increase attributed in part to “the continuing upward shift in private average selling price (ASP)”.
The Central Belt is good for AvantColin Lewis
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Speaking to The Scotsman, chief executive Colin Lewis noted that the underlying average selling price in the year grew to £252,000 from £242,000, which it said excluded Richmond Gate in Glasgow, “which comprises predominantly apartments where the private ASP is considerably lower than in other Avant developments”.
The group is targeting the £250,000 to £280,000 bracket, operating in the “upper end of the middle sector of the housing market”, Lewis also said. Avant overall is looking to reach £500m turnover and 2,000 homes.
He acknowledged political uncertainties including the prospect of a second Scottish independence referendum, but said the housing market “remains positive — we still can’t build as many houses as people want to buy. We are confident about our forward view and strategy.”
Sites acquired by Avant in the second half include 100 plots in Cairneyhill, Fife, and Lewis noted that the group operates in the Central Belt, and is unaffected by issues in Aberdeen, for example.
He also said it has opened sites in the east, in Haddington and Newcraighall, and added: “The Central Belt is good for Avant and I hope that Avant is good for the Central Belt so you’ll see hopefully more of us in that area.”