Sales unaffected by Brexit vote

Bovis Homes is set to post record revenue and higher profit for 2016, after sales held up after the EU referendum in June.

In a trading update, the housebuilder said strong demand and government support with the Help to Buy scheme was underpinning growth.

In forthcoming results for the 2016 calendar year, the firm expects to report a 5% increase in completions and a 10% jump in its average sales price.

Bovis Homes said in the weeks following the Brexit vote sales have “followed a normal seasonal pattern”.

Chief executive David Ritchie (pictured) added: “Housing market fundamentals remain supportive despite greater market uncertainty and we continue to manage the business through the cycle to deliver sustainable shareholder returns.”

Bovis also said Nigel Keen, property and development director of the John Lewis Partnership, was joining the board as a non-executive director.

The firm announced it has opened a new 80-strong regional office in Milton Keynes to manage the northern Home Counties.

The region covers locations in Bedfordshire, Buckinghamshire, Hertfordshire and Northamptonshire, and manages more than 15 sites, including the 3,650 home mixed-use Stanton Cross development in Wellingborough, Northamptonshire.