House builders see uplift in Autumn sales

Aaron Morby 13 years ago
Share

Leading house builders are reporting signs of confidence returning to the housing market despite fears about the impact of the Eurozone crisis and health of the UK economy.

Sales at Taylor Wimpey, Persimmon and Bovis recovered in the busy Autumn selling season according to a series of trading statements from the firms this week.

The builders remain cautious about pressing ahead with a large number of new sites in the present economic climate but the improvement in sales should work through to a small uplift in starts.

The trio of house builders reported sales rates had improved in line with expectations and described the market as stable.

Persimmon, largest UK house builder by market value, said first-time buyers had returned to the market, up 35% against last year and were keen to participate in the Government sponsored FirstBuy shared equity scheme.

Weekly private sales rates from the start of September were 19% higher than a year ago giving it confidence that expected sales volumes for the full year would be consistent with 2010 at more than 9,300 legal completions.

The country’s second biggest volume house builder Taylor Wimpey said housing market conditions were robust despite the ongoing uncertainty in the wider economy.

It said the return to more normal seasonal trading patterns over the autumn was encouraging after the collapse last year. Visitor levels rose 40% in the 10 weeks from the end-August.

As a result, Taylor Woodrow said average weekly reservation rates per site rose to 0.55 for the second half to date compared to 0.47 last year.

Its current order book for future completions at week 43 in the calendar is 6,265 homes against 5,496 homes last year

Meanwhile, smaller rival Bovis Homes said its sales rate per site was also up from 0.45 last year to 0.49 over the autumn period.

Bovis said it was on track to deliver completions up between 5% and 10% on last year’s figure of 1,901, helped increase in the number of sales outlets, and a 10% increase in the number of net reservations per site week.

Latest news

Morgan Sindall to build former Willmott Dixon leisure job

New contractor appointed on
10 hours ago

Graham consortium wins £400m Manchester job

Equitix consortium to now work up DBFO plans for University of Manchester’s Fallowfield Campus
7 hours ago

Keltbray looking to sell infrastructure business

£378m turnover rail, energy and highways business up for sale
17 hours ago

Innovative viaduct building method used for first time in UK

HS2 contractors will build nine viaducts in Delta Junction using special cantilevered process
18 hours ago

Unite buys London site to fast-track 444-bed student scheme

£800m to be spent on London development pipeline in next five years
18 hours ago

CITB awards £2.5m of contracts to management consultant

Three outsourced deals in the last year for "project leadership and management consultancy"
18 hours ago

Village centre approved for 6,000-home new town plan

Hampshire's Welborne Garden Village plan has been in the pipeline for two decades.
17 hours ago

£3m fine after cherry picker demolition death

Court rules after tragedy during decommissioning of gas rig
18 hours ago

BAM plans wave of job cuts at UK Construction arm

Co-op Live arena plunges Bam Construction to £19.5m first-half loss
2 days ago

Robot tunnel builder goes into administration

Hypertunnel was hoping to revolutionise how underground structures are built
2 days ago

Wates to build £86m Guildford Council housing scheme

40% of the 248 homes will become council homes under partnership deal
2 days ago

“Scrap CITB” say three quarters of construction firms

Payroll giant Hudson Contract calls for CITB to be absorbed into new Skills England training body
2 days ago

£100m Prestwich Village revival approved

Vinci and Willmott Dixon in chase for Muse-led regeneration scheme
2 days ago

Carbon negative asphalt aggregate trialled on M11

Skanska and Tarmac test CO2 absorbing aggregate material on stretch of Essex motorway
2 days ago

Father and son sentenced over covid construction loan fraud

Bristol builders given suspended jail sentences over bogus Bounce Back Loans
2 days ago

Beck Interiors files administration notice

Supply chain has suffered delayed payments from £139m-turnover luxury fit out specialist
3 days ago

Green light for York Central civil service office hub

£60m office project accelerates York Central goods yard redevelopment
3 days ago

Blenheim House Construction enters administration

Administrators looking at options on present projects
3 days ago

Profits rise at Esh Group with more to come

Contractor confident about year ahead as market conditions move in right direction
3 days ago

Piling specialist Van Elle sees housing orders rise 30%

Mark Cutler says firm on course to deliver 10% annual sales growth
3 days ago

HS2 to spend £100m shutting sites where work never started

Remediation of sites no longer needed for cancelled Phase 2 will take three years
3 days ago

Willmott Dixon wins £61m deal for new Army dog unit

Contractor to revamp Kendrew Barracks in Rutland
3 days ago

Stockport advances 4,000-home Town Centre East plan

Council seeks consultants to steer plan for 280-acre area in the city
3 days ago

ISG sale imminent as buyers set-up UK holding company

South African nutrition entrepreneur and Australian partner primed to take over
4 days ago

CR Construction wins £210m Manchester towers

Construction to start next year on four blocks ranging from nine to 34-storeys
4 days ago

Southern Housing to rationalise supply chain following merger

Firms put on alert for £1.7bn construction framework renewal
4 days ago

Decision delayed on 52-storey Isle of Dogs tower

Hong Kong developer plans 460 flats block next to Millwall Inner Dock
4 days ago

Go-ahead for £850m North London estate rebuild

Flagship Edmonton housing estate redevelopment will deliver 2,000 new homes
4 days ago

Mace lands £184m Oxford Science Park contract

Contractor to build trio of laboratory and office buildings
5 days ago

Worker paralysed in 30ft fall during electricity pylon demolition

Specialist firm fined £240,000 after court hears linesman attached lanyard to a loosened steel section
4 days ago

Contractor services