Bovis Homes sees signs of turnaround in market amid modest growth in mortgage availability

Bovis Homes has said there have been further signs of improvement in the market following “signs of stabilisation” in the first half of 2009.

In a trading update this morning, the housebuilder said it had achieved 1,488 private reservations in the year to 13 November, which is 83% up on last year.

In total the group said it would complete about 1,800 homes in 2009, broadly in line with last year’s figure of 1,817.

Of the anticipated completions, about 1,500 are expected to be private homes (2008: 1,223) and 300 are expected to be social homes (594).

It also reported good news on its net cash position, which stood at £89m as at 13 November.

A company statement said: “Looking ahead into 2010, the group expects to see a continuation of the current market backdrop, with pricing stability and further modest growth in mortgage availability.”