Countryside reports “strong growth from mixed tenure delivery”

Countryside Properties has today issued a trading update for the year from 1 October 2017 to 30 September 2018.

Operational Highlights

  • Total completions up 27% to 4,295 homes (2017: 3,389 homes)
  • Open sales outlets up 28% at 60 (2017: 47 outlets) with a further 55 sites under construction (2017: 41 sites)
  • Net reservation rate1 0.80, at top of target range (2017: 0.84)
  • Private average selling price (“ASP”) reduced by 7% to £402,000 due to the impact of regional mix with underlying sales price growth of 2%
  • Total forward order book up 40% at £900m (2017: £644m) of which the private forward book was £215m (2017: £242m)
  • Strong cash generation with closing net cash of £45m, after the acquisition of Westleigh (2017: £77m)

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