Gleeson hopes for bright Spring after subdued market

MJ Gleeson has today issued a trading update for the half-year ended December 31 2025 saying it expects that the group's results for the full year will be in line with current market expectations. This would see pre-tax profit for the full year at £24.3 million and nearly 2000 completions.

Gleeson Homes will report the sale of 848 homes, around 6% more than the same period last year (H1 FY2025: 801 homes). Net reservation rates during the period increased to 0.75 per site per week (0.48 excluding bulk reservations) from 0.55 per site per week (0.44 excluding bulk reservations) during the same period last year. Gleeson Homes enters the second half of the current financial year with a forward order book of 978 plots (31 December 2024: 597 plots) of which around 650 sales are expected before the financial year end.

The firm said: “Demand for new homes remained subdued but steady through the period with buyers' lack of confidence in the current economic environment compounded further by commentary during the run-up to the late Autumn Budget. With Budget concerns fading and following the interest rate cut in December, we expect to see an improvement in open market …