<p>Stewart Milne Homes has put its plans to sell the business on hold, citing uncertain market conditions.</p> <p><span>In a statement, the Aberdeen-based housebuilder said the “shift in the dynamics of the UK economy” since announcing in April its intention to sell the company had caused the directors to pause their discussions with potential buyers “for now”. Its decision to </span><a href="http://www.house-builder.co.uk/news/stewart-milne-homes-sale">sell followed founder Stewart Milne’s announcement of his retirement</a><span> after nearly 50 years at the company’s helm.</span></p><p></p> <p><span>The housebuilder stated that interest in the business had been “strong” due to its prominent market presence and brand reputation, with “fruitful” discussions being held with various potential bidders. The interest was further aided by Stewart Milne’s robust forward sales position and “the positive momentum in the housing sector across the UK at the time”.</span></p><p></p> <p><span>But the subsequent rise in interest rates and higher inflation alongside “other factors” meant the sales process was now suspended, the firm said, a decision taken by the company’s directors and supported by the group’s secured lenders.</span></p><p></p> <p><span>Stuart MacGregor, Stewart Milne Group’s ceo, said: “When we took the decision to sell the business in early 2022, market conditions were very different from those we are facing today. It …