Two housebuilders have released positive trading updates indicating that the outlook for this year is upbeat.
The Miller Group reported that turnover had risen 34% to £1.2bn for the year ending 31 December. It shrugged off fears of a downturn in the housing market, adding that conditions provided “an attractive environment within which to operate”.
Housing, Miller’s biggest division, generated turnover of more than £700m with social housing completions increasing 65% to 267 units.
Bovis Homes also released an update this week. The housebuilder said completions had risen by more than 15% in 2006 with the average sale price increasing 4.7% to £183,000.
It has secured more than 25% of projected completions for this year.