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Bovis shrugs off Brexit gloom with strong sales

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Bovis Homes the housebuilder has shrugged off the Brexit gloom as they have posted higher sales in what is a “strong market.”

The housebuilder has had a 17% increase in private sales per site per week, they said in a statement.

Bovis said, “The current market fundamentals remain strong and we continue to see good levels of demand for new homes across all of our operating regions.

“We have a strong forward sales position and are confident of delivering completions in line with our expectations for the year.”

Robin Hardy, an analyst at Shore Capital said, “While Bovis reports that the market is ‘strong’ this is not the same view expressed by other house builders where the market is seen as being stable on the demand side and weakening on prices.

“It must be borne in mind that Bovis is still on a journey of re-build and repair and that this is likely to enable it to fair better than the rest of the sector.

“So, the bullish comments relate to this rather than any suggestion that the new homes or the wider housing markets are on the up.”




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