Bovis Homes see average selling price soar to £210,000 as completions rise 54pc

 
Billy Ehrenberg
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Bovis Homes has seen a 54 per cent rise in completions in the first half of 2014 (Source: Getty)

Bovis Homes has seen a 54 per cent rise in completions in the first half of 2014; its highest ever number of completions for the first half of a financial year.

According to its latest trading update completions stood at 1,487 for the first six months of 2014, up from 963 in the corresponding period last year.

The construction group also saw an 11 per cent rise in the average sales price on legal completions, from £188,500 to £210,000.

The increase is similar to the figure reported by Taylor Wimpey yesterday, and is seen as a result of house prices rising nationwide.

Bovis said that demand had grown as a result of an improving economic background and that it expected the effects of the government's controversial help to buy scheme to continue to boost sales.

Overall housebuilders are seeing an upturn in fortunes as demand for homes continues to outstrip supply.

When it released its 2013 annual report in January, Bovis reported a 19 per cent increase in completions from 2,355 in 2012 to 2,813 in 2013, meaning today's 54 percent increase over the first six months of 2013 indicates a further increase in demand.

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