Housebuilder Bovis Homes remained confident about its prospects today after seeing no slowdown in demand for its properties in the last two months.
Gloucestershire-based Bovis said site visitor levels and reservations since 11 September had been higher than for the comparable period last year.
The company, which was due to brief analysts today, said lower interest rates and a competitive mortgage market had helped buoy demand.
The update comes amid fears the housing market was set to slow after figures last week showed average prices had dipped 0.5% during October. However, Bovis said that reservations for the year so far were now running at 5% ahead, with strong increases in average sale prices.
It added that margins were broadly in line with the company’s expectations for the year.
Two months ago, Bovis blamed poor weather conditions for a fall in the number of house completions.
Despite the dip, half-year pre-tax profits rose 8% to £28.6m and turnover lifted from £129.7m to £145.2m.
EGi News 12/11/01
