Inland Homes has reported a 27.9% increase in open-market unit completions to 188 for the year to 30 June and said this was down to using its own in-house construction team.
Planning permissions increased by 69.3% to 1,856, according to the housebuilder’s preliminary results. Despite maintaining a 100% success rate in securing planning permissions, Inland Homes said “recommendations of planning officers are not always adhered to” and this was “adding to the pressures of a severe shortage in the UK’s housing supply”.
The housebuilder’s landbank now comprises 6,776 residential plots, of which 2,105 have either planning consent or a resolution to grant planning consent pending the signing of a section 106 agreement. The short-term development pipeline of 4,606 plots owned or in joint ventures has a record GDV of £1.3bn – up by 10.7% on the previous year.
Revenue (excluding sale of land via corporate disposals) was down by 11.8% to £90m. Income from land plots sold totalled £780m, an increase of 83.5% on the previous year.
In a statement, Inland Homes said: “With house prices stabilising and the government’s Help to Buy scheme set to continue, demand for both our open-market units and land remain at good levels. Balancing our unit and land sales with pre-sales to housing associations and PRS funds de-risks our business model and provides another important revenue stream, allowing a solid base for the future progression of the business.”
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