Bovis profits double and housebuilders are using the crisis to buy up cheaper development land

19 Aug

According to THIS article in the Daily Telegraph Bovis Homes profits have doubled in the last quarter and the article states:

Housebuilders have also seized upon the financial crisis to buy up cheaper developer land and have focused on building in regions where house prices have stayed strong, boosting profitability.

Bovis said it completed 944 homes in the first six months of the year, compared to 801 in the same period last year. The average sales price was £164,000 compared to £163,400 last time.

The FTSE 250-listed business has focused on acquiring plots in the south of England, where the housing market is more robust. During the first half of the year, Bovis added 1,027 plots on eight sites to its land bank.

Perhaps they could buy the Tesco site in Seaton?  Then again, perhaps not!

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One Response to “Bovis profits double and housebuilders are using the crisis to buy up cheaper development land”

  1. Paul Hayward August 19, 2013 at 1:17 pm #

    didnt Bovis pick up Cloakham Lawns Axminster for a snip after Carpets was forced to sell earlier this year?

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