Bovis Homes has said results for the six months to 30 June will be “significantly lower” than expected, because of a 30% fall in reservations since January.
Reservations in the year to date are 1,382 compared with 1,979 in the same period in 2006. Bovis said the rest of the year was “difficult to predict”.
In a trading update, it blamed the tightening of the mortgage market and negative publicity surrounding the credit crunch.
But it confirmed that it would continue to open new sales sites in selected areas with investment being “cautiously controlled”.