Crest Nicholson sees trade rise in a competitive housing market

Stamp duty revisions and mortgage market pricing lifted Crest Nicholson’s trading figures
Housebuilder Crest Nicholson said yesterday that revisions to stamp duty and increasingly competitive pricing in the mortgage market led to strong trading in the six months ending 30 April.

Sales per outlet per week for the six-month period were at 0.93, a 12 per cent increase on 0.83 in the first six months of 2014.

In addition, Crest Nicholson sold 97 units at Bath Riverside to M&G Real Estate, which purchased the homes for private rental. This transaction is intended to form part of a longer-term relationship between both companies.

The business continues to grow its outlet reach and operated from 44 sales outlets year-to-date, from 42 in 2014 – an increase of five per cent.

Stephen Stone, chief executive said: “The business is well positioned to continue to grow volumes and revenues in line with our previously stated targets, and make its contribution to the delivery of the new homes that the country needs.”

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