Bovis (BVS) delivered record completions of 1,525 new homes in the six months to June, as the current strong trading environment showed no signs of slowing down. Reservations grew from 3,297 to 3,505, while trading outlets rose by 8 per cent to 100. There is also a strong pipeline of around 40 new site acquisitions that are expected to be completed this year. The house builder also confirmed a 14 per cent rise in the interim dividend as part of a commitment to increase the annual payout to 40p a share.
Build costs, which typically equate to around half the selling price of any home, rose by as much as 7 per cent. However, these were comfortably offset by a 10 per cent increase in private sales prices to £264,000. And even after taking into account an increased share of social housing, average sale prices were up by 6 per cent.
