Galliford buoyed by private home sales

 
City A.M. Reporter
Homebuilder Galliford Try sold more homes at higher prices in its private housebuilding segment for the full year, largely benefiting from its focus on the south of England, and said the UK housing market has been stable.

Completions including those from joint ventures rose 40 per cent to 3,039 units during the year. Of these, private housebuilding represented 2,272 units.

In private housebuilding, the average price was 250,000 pounds ($388,100) per unit, up from £227,000 a year earlier.

The company benefited in particular from the south-east of England where the economy remained resilient, Galliford said.

The residential property market in London and south-east England has remained robust. But conditions in the rest of the country remain challenging, largely due to tight mortgage financing amid a tough economic environment.

Galliford said its total landbank increased to 10,500 plots, compared with 10,250 plots last year, with a greater concentration of plots in the south-east of England.