Housebuilder Vistry has said it is on track to deliver in excess of 10% growth in completions to more than 18,000 in its current financial year.
In a trading update covering the calendar year to date, chief executive Greg Fitzgerald said the company’s partnerships model was “clearly demonstrating its market resilience”.
“Working closely with our partners, we are seeing good demand in the partner-funded market and, accompanied by an improving trend for our open-market sales, are on track to deliver more than 10% growth in completions in FY24, with half-year and full-year profit expected to be ahead of last year,” he added.
“This is underpinned by our strong forward sales position totalling £4.9bn, up 10% on the same position last year. We remain confident in our differentiated strategy and are making good progress towards our medium-term targets.”
The weekly sales rate has averaged 0.96 in the year to date versus 0.97 a year ago, and increased to 1.23 over the last eight weeks.
Send feedback to Tim Burke
Follow Estates Gazette
