Shares rise 7% as housebuilder issues upbeat trading statement.

Preliminary results from housebuilder Wilson Bowden show a surge in reservations in the last 11 weeks, with second-half sales likely to be around 2,800 homes. The group described its financial position as “robust”.

The City reacted positively to the news as shares climbed 7% to 1490p.

With cancellations down by 75% Wilson Bowden said there was more confidence in the housing market, and expected to enter the new year with a forward order book ahead of its long-run average.

Although David Wilson Homes’ completions are expected to fall slightly to around 34% for the 12 months to December 31, the group said that average selling prices had increased during the second half of the year.

Wilson Bowden Developments has also increased it’s long-term order book.