Countryside on track to meet full-year expectations
Countryside Properties has reported stronger customer demand after a “slower start to the year” and is “on track to deliver expectations for the full year”.
The housebuilder and regeneration company said this month that its half year trading had been “solid”. During the six months from October 1 2018 to March 31 2019, its total completions (combining its Housebuilding and Partnerships divisions) rose 43% to 2,362 homes against the equivalent period the previous year.
The total private average selling price of the homes fell 4% to £377,000, resulting from an increased contribution from the company’s regional businesses, it explained.
Completions in Countryside’s Housebuilding division were “as expected” – broadly flat at 473 against H1 2018’s 483, but with a higher proportion of private sale homes. Its Partnership arm “continued to grow strongly”, seeing a 61% increase in completions to 1,889 homes. Excluding the acquisition of Westleigh, growth was 12%.
Following the acquisition, Countryside’s three new regions across the Midlands and Yorkshire were now fully integrated, the business said, providing “an excellent platform for future mixed-tenure growth”.
Ian Sutcliffe, Countryside’s ceo, said: “Despite the wider political and macroeconomic uncertainty, demand for mixed-tenure homes remains strong and we have enjoyed a robust spring selling season. With our modular timber frame factory now operational, we continue to be well positioned to deliver on our geographic expansion.”