Country & Met booms on low-cost formula

Feb. 4, 2005
Boosting volumes of lower priced homes is proving a winning formula in the current market. And Country & Metropolitan is on track to meet profit forecasts by concentrating on this strategy. In the year to the end of June, the company built 725 units. This year it is on course to complete 950, mainly in the north. CEO Stephen Wicks explained: “Despite the gloom we are going great guns. It all comes down to strong demand as long as people can afford to buy. Affordability is the key thing.” Bellway has also boosted both volumes and prices in the six months to the end of January, compared with the same period the previous year. Volumes were up 7% and average prices up from £156,000 to £165,000. An emphasis on the North has helped and forward sales are excellent with 86% sold for the full year up to July.

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