Bovis sees surge in reservations

Bovis Homes is the latest housebuilder to report a surge in business thanks to government stimulus measures, with a 40 per cent rise in private reservations.

The company said it achieved 1,389 net private reservations in the first half of 2013.

It said the net private sales rate per site per week improved by 26 per cent, “benefiting from the improving quality of active sales outlets and the positive effect of stronger home buyer sentiment”.

Sentiment was supported by the UK government’s Help to Buy scheme, launched in April and only available south of the Border.

In the second quarter of 2013, Bovis achieved a net private sales rate per site per week approximately 60 per cent ahead of the same three months in 2012.

Chief executive David Ritchie said: “The group has performed well in the first half of 2013 with a significant further improvement in housing profit, delivered from the ongoing successful execution of the group’s growth strategy.

“Trading in the first half of 2013 has been strong and the group has achieved a 40 per cent increase in private reservations compared to the same period in 2012.

“Continuing its success in the land market, the group has added 2,767 new consented plots to the land bank. With the positive progress in executing its growth strategy, the group is well positioned to deliver higher shareholder returns.”