Housebuilders report rise in visitors and reservations

June 1, 2009
Housebuilders are beginning to report an improvement in fortunes with visitors and reservations rising prompting Redrow to restart work on some sites. However they remain cautious about the future in a market that continues to challenge. Redrow’s interim management statement said: “With sales volumes in the housing market seeming to have stabilised, we are recommencing construction on certain developments and starting new sites from our existing land bank.” The company said it had been bolstered by sales activity since the start of the calendar year, and sales rates per outlet were ahead of the same period in 2008. <br> <br> Bovis revealed that it planned to re-enter the land market after focusing on delivering “strong positive cash flow“ and achieving lower debt levels: “This should provide the group with the opportunity to invest in the residential land market at what it anticipates will be attractive values: an opportunity which the group believes may begin to emerge in the second half of the year.” It revealed that in the 17 weeks of trading to May 1 2009, it made 638 private reservations, a 71% increase on the same time period last year when it achieved just 373. <br> <br> Barratt saw …

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