Qualified advisers answering your
Financial Questions
call 0800 092 1245

Bovis Homes releases good news for about the UK property market

Prominent UK housebuilder Bovis Homes has today issued first half figures for 2009 which are on the whole fairly irrelevant at this point in the cycle, but the statement which accompanied the results claims that the UK housing market is starting to stabilise. As a consequence we saw Bovis Homes shares rise to an 18 month high with hopes that we have seen the worst for the UK housing sector and demand for property in the UK is starting to build again.

Despite a number of write-downs which pushed the company into an £8.6 million loss Bovis Homes reported a 92% increase in home reservations and generated cash inflow of £94 million in the first six months. This has allowed the company to reduce its debt to £14 million and increase access to funding which may be used to expand the business in the short to medium term. It seems as though each day brings a new angle and the new opinion from those in the UK housing market and the UK property sector. However, it is still as difficult as ever to read the true direction of the UK economy and the property sector in particular.

We await figures from other housebuilders to see if the trend highlighted by Bovis Homes is being replicated across the sector.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details