Shares in Countryside Properties have jumped this morning after the developer said house completions soared in the first half of the financial year and buyer demand picked up.
The housebuilder said it completed 2,362 homes, a 43 per cent increase on the same period in the previous year.
The FTSE 250 firm said demand from buyers had grown in the second quarter after a slower start to the year and it remained on track to deliver its full year expectations.
But its average selling price of homes in the six months to 31 March fell four per cent to £377,000 as it sold more homes outside of London.
Shares in the company rose more than five per cent in early trading after the firm reported a “robust spring selling season.”
Countryside Properties’ timber frame factory – to build modular housing – began full production in March and is set to deliver 500 homes in the current financial year and 1,500 homes annually.
Chief executive Ian Sutcliffe said: “Despite the wider political and macroeconomic uncertainty, demand for mixed-tenure homes remains strong and we have enjoyed a robust spring selling season.
He added: “With excellent visibility of future work, we remain confident of delivering our medium-term growth plans.”
The company added that chief operating officer Becky Worthington would leave the firm today after four years having contributed to its IPO in 2016.