Housebuilder says market improving after posting 40% increase in private reservations

Bovis Homes

Bovis Homes has reported strong trading in the first half of 2013, with a 40% increase in private reservations compared to the same period in 2012.

In a trading update for the six months to 30 June 2013, the housebuilder completed 963 homes, compared to 944 the previous year.

The firm also added 2,767 new plots to its landbank.

David Ritchie, the chief executive of Bovis Homes Group said: “Even though the general economic background remains challenging, the housing market has shown signs of strong improvement. 

“Consumers are increasingly able to access mortgage finance and the launch of the Help to Buy shared equity scheme, replacing FirstBuy, has had a positive effect on customers’ confidence to buy a home and their ability to transact.

“These positive effects are expected to support greater activity in the new homes market, which in turn will provide an impetus to the number of new homes built.

“The Group continues to view positively the government’s initiatives to support the housebuilding sector.”

 The update came ahead of the firm’s its half year results due to be announced on 19 August.