MJ Gleeson doubles home sales as appetite for affordable property offsets inflation July 11, 2022 Low-cost housebuilder MJ Gleeson has doubled its home sales in the past five years, leaving significant material and labour cost increases in the dust. In an upbeat trading update today, the company boasted a more than 10 per cent jump in sales to a total of 2,000 in the year to 30 June. “Notwithstanding the [...]
UK house price growth slows to 1.9 per cent in May July 19, 2023 The average price of a UK house cost £286,000 in May, according to new government data, with the figure being £6,0000 up on 12 months ago – but £7,000 below its September peak. Average UK house prices increased by 1.9 per cent in the 12 months to May 2023, down from a revised 3.2 per [...]
This week: Housebuilding space to come under spotlight with key players revealing results September 5, 2022 Investors will get a good idea of how the housing market is faring with a trio of leading housebuilders unveiling financial results this week. Barratt Developments, Berkeley Group and Vistry are all set to update shareholders on their performance amid reports the housing sector is losing steam. London-listed housebuilding giants Barratt, Berkeley, Persimmon and Taylor [...]
Vistry’s share price jumps 15 per cent as it sets out new affordable homes focus September 11, 2023 Shares in Vistry jumped 15 per cent this morning after the housebuilder said it will now solely focus on building affordable homes.
Vistry flogs £800m worth of units to Blackstone funds in pivot to affordable homes November 7, 2023 Vistry has sold £819m worth of homes to Leaf Living and Sage Homes, both backed by alternative asset management giant Blackstone, as the company shifts to becoming a solely affordable housebuilder.
Vistry reports strong half year financials with revenue of £1.1bn September 7, 2021 Vistry Group PLC has reported financials “significantly ahead” of expectations for the first half of 2021, with revenue of £1.1bn. The Group, which builds new homes, saw revenue surge by 82 per cent compared to the same period last year while adjusted revenue climbed by 4.3 per cent compared to 2019. Profit before tax jumped [...]
GKN owner Melrose starts unit sale as annual profit plummets March 4, 2021 Melrose Industries said on Thursday it had begun processing the sale of its Nortek air-conditioning division as the company posted a steep fall in annual profit. The company, which owns jet and car parts supplier GKN, said Nortek is trading “very strongly” and that there was no guarantee a sale would take place. Melrose’s adjusted [...]
Vistry reports 22 per cent slide in home completions as rate hikes bite July 20, 2023 Vistry Group said the number of homes it completed during the quarter was down 22 per cent compared to the same period last year, as surging mortgage rates continue to hit UK housebuilding companies. The London-listed firm blamed a “tough” economic climate for the decline, with the housebuilder completing 2,847 homes in the period down [...]
Vistry launches buyback as revenue boosted by affordable housing push March 14, 2024 Vistry has reported a rise in revenue during the full year as its transition to affordable housing appears to be paying off.
Homebuilder Vistry boosts output target as cost inflation softens July 9, 2024 Vistry announces strong first-half results