Wilson Bowden became the third housebuilder in a week to confirm the underlying strength of the housing market.
Wilson Bowden backed Berkeley and Persimmon in saying that demand was still strong and that there was no sign of collapse in house prices.

Chairman and chief executive David Wilson said while he was cautious about the short-term outlook, the housing market remained strong "almost in defiance of the wider economic picture".

Forward sales matched last year, while reservations are ahead of 2000 levels.

He made the comments as Wilson Bowden posted a pre-tax profit of £58.8m for the six months to 30 June, up 13% from the same period last year. Turnover increased from £308m to £351m. Completions rose 8% to 1809 and the average selling price rose 4% to £155,900.

Wilson said tight planning restrictions were still the main area of concern, with different interpretations of planning law between authorities creating confusion.