Countryside sees “another year of strong growth”

Nov. 21, 2018
<p><span>Countryside has enjoyed “another year of strong growth", it said today, (November 21) with total completions up 27% against 2017.</span></p> <p><span>During the year to September 30 2018, the housebuilder achieved total completions of 4,295 homes. Its overall private average selling price dropped 7% to £402,000 compared to last year, due to the company’s focus on “price-points appropriate to local owner occupiers,” and its shift away from London and the south east.</span></p> <p><span>The group’s net reservation rate for the year was 0.80, slightly down on 2017’s 0.84. It operated from 60 sales outlets against 47 in 2017.</span></p> <p><span>Group adjusted revenue rose 20% to £1,229.5 million, with adjusted operating margin up 110 basis points to 17.2%.</span></p> <p><span>Completions in the Housebuilding division rose 7% to 1,276 homes, with those for private homes rising 3% to 858 homes. Private ASP was “broadly in line” with 2017 - £512,000 on last year’s £515,000, with the division’s pricing stabilising after planned reductions in recent years. “Our Housebuilding division continues to grow to scale,” the business said.</span></p> <p><span>Meanwhile, Countryside’s Partnerships arm “continued its strong growth trajectory during the year”, strengthened by the company’s acquisition of Westleigh in April. Completions lifted 38% to 3,019 homes; those for private …

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