Housebuilder expects another year like 2005

Housebuilder expects another year like 2005

Wednesday, November 23, 2005

Homebuilder Crest Nicholson has decided that despite challenging conditions, it expects to see a stable housing market through next year.

In a company statement this morning, housebuilder Crest Nicholson said that trading in 2005 had been in line with expectations and it predicted that the housing market would remain stable going into next year. The company expects housing market conditions in 2006 to be similar to 2005.

Open market housing completions were up 3% and the average selling price up 5% to around £220,000. The company said forward sales at the end of the financial year were up 13% on 2004.

Crest Nicholson added that the fundamentals of the housing market remain good with low unemployment and a continuing shortage of housing supply in its main areas of operation in Southern England and the Midlands.

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