StockMarketWire.com - Homebuilder Countryside Properties reported a rise in first-quarter completions, in line with expectations, and said it plans to expand regionally were on track and progress had been made on separating its two divisions.

For the 13-week period from 1 October 2020 to 31 December 2020, completions were up 17% to 1,280 homes from a year earlier, and net reservation rate was 0.53, down from 0.81.

Private average selling price increased to £404,000 from £394,000 last year.

Forward order book stood at £1,259 million as at 31 December, up from £1,432 million, driven by 'private completions in Q1 and new development timing,' the company said.

'We enter the second quarter with good visibility ... [and] while some economic uncertainty the outlook for the group remains positive given sustained levels of strong demand for our homes across all tenures,' the company said.

'All our construction sites remain open in line with our health and safety guidelines and our sales teams are operating on an appointment only basis,' it added.




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