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July 10, 2010    

Bovis reports “solid” private sales

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by Gill Montia

Bovis has reported a steady half year in terms of sales, although the new homes market remained “subdued” with first-time buyers limited by “liquidity issues”.

However, the house builder delivered “solid” weekly private sales rates in the six months to the end of June 2010, and achieved prices that were ahead of expectations.

During the period, the group legally completed 803 homes, an increase of 6% on a year earlier, with an average net sales price of £163,500, compared with £160,400 in the first six months of 2009.

Over the the past 12 months, the house builder has achieved a net private sales rate per site per week of 0.42 reservations, ahead of the comparable 0.39 rate seen in the first half of 2009.

Bovis has also launched “The Perfect 10″ mortgage, in partnership with Barclays, which gives its customers access to a 90% loan-to-value deal, at a fixed rate of 4.99% for two years.

Finally, the group has added around 1,900 plots to its consented land bank since the start of 2010, 80% of which are located in the south of England.

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