Strong momentum and progress at Inland

Inland Homes has issued a trading statement in respect of the 15 months ending September 30 showing a 313% rise in partnership housing equivalent units to 339 (June 30 2018: 82) and a 53% fall in private housing completions to 130 (June 30 2018: 275). Revenue stayed steady at £151 million.

The firm said: “Significant progress has been made in the period with strong momentum across the group’s operations and trading in the period has been in line with the directors’ expectations.”

Inland saw an expected fall in private housing completions to 130 (2018: 275) “due to the number of large-scale apartment developments under construction where occupations can only be achieved on handover of completed blocks. We currently have 889 private homes and 578 partnership housing equivalents under construction, which provides an indication of the current scale of our development programme. We have begun discussions with a number of build to rent operators and expect to enter into this market which will reduce our headline gearing and generate new capital to reinvest in our business.”

Inland’s average selling price was £250,000 with an average sales rate per active site over the past nine months of 0.71 homes per …