UK housing market could be hit by uncertainty after the General Election, warns top housebuilder Crest Nicholson

 
Shruti Tripathi Chopra
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Average House Price In The UK Rises 8% In The Year
Crest was among a raft of housebuilders whose shares took a hit last week (Source: Getty)

The outcome of last week's General Election will lead to uncertainty in the UK housing market, housebuilder Crest Nicholson said today.

The warning came as the housebuilder, which operates in London, southern and eastern England and south Wales, reported its pre-tax profit had risen five per cent to £76.2m in the six months ended 30 April 2017.

The FTSE 250 firm said its forward sales stood at £540m by mid-June, four percent ahead of last year.

Read more: What the General Election results mean for house prices

Crest was among a raft of housebuilders whose shares took a hit last week following the results of the General Election.

Stephen Stone, chief executive, said: “The outcome of the UK General Election may introduce some uncertainty in the short term but we expect the new build housing market to remain robust. Strong levels of employment, low interest rates and good mortgage access – including through the help to buy scheme – should all contribute to a sustainable new build housing market.

"We are on track to deliver growth in revenue this year and are planning for the medium term as we progress towards our 2019 targets of £1.4bn sales and 4,000 homes.”

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