Housebuilder predicts a healthy housing market in 2005 after annoucing it will make record profit for the year ended December 2004.
Bovis Homes has announced it will it make record profits for the year ended 31 December 2004. The housebuilder said the results due on 14 March would be in line with brokers’ expectations.
Completions for Bovis increased by 9% in 2004 and the average selling price rose from £185,000 to £198,000. The company said that land sales and other income had exceeded those reported for the previous year.
Bovis said that an imbalance betweeen housing supply and demand, continuing low interest rates and high levels of employment would ensure a healthy housing market in 2005.