Firm sticking to target of doubling house sales to 2,000 within five years

House building

Gleeson said it sold 1,225 homes during the year to the end of June, up 21%, the firm’s largest annual volume figure.

In a trading update the listed housebuilder and regeneration specialist said it was “comfortably on track” towards achieving its 2017 stated target of doubling housebuilding volumes to 2,000 new homes a year within five years.

Gleeson Homes was currently active on 65 sites and expected to increase this to more than 70 sites during the coming year, the group added.

Its strategic land operation sold 10 land interests comprising 335 acres with the potential to deliver 1,970 plots for housing development.

Jolyon Harrison, Gleeson’s chief executive, said the group’s strategic land business was seeing strong demand from both large and mid-sized housebuilding customers for consented land, while demand for its housing stock remained strong.

“We ended the year well on track to achieve our 2017 stated target to double house sales to 2,000 homes per year within five years,” he added.

Last year Gleeson reported pre-tax profit of £33m on turnover of £160.4m.

The firm publishes results for the year to the end of June 2018 on 17 September.