Firm upbeat about prospects and confirms it has won work on Wolverhampton housing
Housebuilder Countryside said the number of homes it has completed in the last three months was up more than 40% to over 800.
In a trading update, the firm said total completions in the 13 weeks until the end of June had jumped 41% to 821 compared to the same third quarter last time.
It added that it was now getting more for its homes with average prices for private sale up 16% to £404,000.
The firm also revealed its partnerships divisions, which carries out work with local authorities and housing associations, is preferred bidder for the next phase of the £176m Bilston Urban Village on the outskirts of Wolverhampton. The site will eventually provide more than 1,000 homes along with retail and commercial.
It added that it expected more business to come its way for the partnerships arm and said it now has more than 18,000 plots under its control. Cenkos analyst Kevin Cammack said: “Partnerships is proving a star.”
Earlier this month, the housebuilder said it had formed a JV with housing association Notting Hill Housing to deliver more than 900 homes (pictured) in Barking, east London.
Countryside chief executive Ian Sutcliffe said: “Our balanced and differentiated business model, with our focus on mixed tenure developments, positions us well to deliver growth, capital efficiency and long term resilience.”
The firm will release its next trading update in October ahead of its full year results on 22 November.
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