Housebuilder Vistry Group has pointed to strong demand across all areas of the housing market, as it posts robust sales rates and expands its land bank.
Its average weekly private sales rate grew to 0.76 in the six months ending June, an increase of 10% on its pre-pandemic equivalent in 2019. Home completions totalled 3,126, up from 1,235.
The group reported £2.7bn of forward sales, with 93% of sales secured so far this year.
It acquired 5,642 plots over the six-month period, with its total controlled land bank increasing by 1,600 in the past 12 months.
Vistry said it performed “significantly” ahead of expectations for H1 and has maintained its expectations for the 2022 financial year.
Greg Fitzgerald, chief executive, said: “Market trends remain positive and we are seeing good demand for completions beyond the end of the stamp duty holiday.
“There is some pressure across the material supply chain in terms of price increases and extended lead times, but we are working well with our partners to ensure successful delivery of our build programme and expect this position to ease through the second half. House price inflation is more than offsetting any cost pressure.”
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