Chesterfield-based housebuilder aims to build 4,000 a year by 2020, according to chief executive Colin Lewis
Privately-owned housebuilder Avant Homes is on track for a record year, according to the Chesterfield-based group’s chief executive.
In a trading update Colin Lewis said revenue for the 12 months to 27 April 2018 was forecast to rise 21% to £441m driven by completion growth – up 16% year-on-year to 1,903 units – and ongoing increases in the private average selling price, up 6% to £257,000.
Avant, which employs around 700 staff, had already secured 69% of its targeted first half volumes in the new financial year, Lewis said.
It expected to hit its target of becoming a £500m-a-year business, set three years ago, by the end of 2018, 12 months ahead of schedule.
It now has a new goal of doubling output to 4,000 homes a year by 2020, Lewis said.
Lewis said: “The confluence of beneficial factors impacting our business is something we’ve not seen before, namely government and cross-party support for housebuilding, a low interest rate environment and Help To Buy, plus our business plan of delivering houses that find favour with members of the public who then go on to become our customers.”
Lewis said the group benefited from better price stability in its trading areas of the Midlands and North of England and a central swathe of Scotland.
“There are fewer price peaks, but similarly fewer troughs. It’s a more resilient market.”
Avant expects to announce its full year results in late July or early August, according to Giles Sharp, the group’s finance director.