Housebuilder reports 12% increase in reservations and 20% more visitors, but sales remain well below historic levels

Bovis Homes has reported a 12% jump in reservations since the start of the year.

The housebuilder revealed there had been 566 reservations on its sites in 2011 and said visitor numbers were up 20% on the same period last year.

It said it had launched 10 new sales outlets this year increasing the average number of sales outlets by 4.6% to 67.

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Real-time Share Price
 Bovis said sales prices had been stable and that gross margins of 19% on sales to date were in line with expectations.

The housebuliders said it aimed to increase margins to 25% on six sites in the South, which have received planning permission for 1,008 plots this year.

Bovis said that sales were still below the historic trend blaming low availability of mortgages. It said it would continue to build traditional larger homes, with bigger sales margins.