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Bovis Homes reports 33% rise in sales

16 May 12 Bovis Homes has been boosted by a strong start to 2012 with private reservations up a third.

During the 19 weeks to 11 May 2012, the housebuilder has achieved 783 private net reservations (2011: 589), a 33% increase year on year.

This has been driven by a 23% increase in the average number of active sales outlets to 82 (2011: 67), and a 9% improvement in the sales rate per sales outlet.

At 11 May 2012, Bovis Homes held 1,013 private reservations for 2012 legal completion (2011: 790). Including social housing units expected to legally complete in 2012, total sales stood at 1,437 units which compares to 1,049 units at the same point in 2011.

The house builder said it “expects the average sales price in the half year results to be ahead of the comparative period of 2011” and that this improvement will “continue during the balance of 2012”.

The firm has agreed to acquire 1,774 housing plots on 14 sites, and has over 2,500 plots where terms are agreed and which are being progressed to acquisition.

Bovis Homes welcomed the launch of the NewBuy mortgage product, which enables customers to access 95% loan to value mortgages.

“There has been strong interest in NewBuy since its launch and the early signs are promising, however NewBuy's ongoing success relies on the availability of mortgages with competitive interest rates,” it said.

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MPU

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