Westbury to increase volumes to maintain profits

June 1, 2005
Westbury has announced plans to ramp up its housebuilding rates by 60% over the next five years in order to maintain profit levels in the increasingly sluggish market. The company has said it will increase volumes from 4,361 homes a year to about 4,650 in the current financial year and to 7,000 by 2010. It also plans to increase the number of regional offices from nine to up to 15 to manage the growth. <p></p><p>Westbury’s outlook for the next five years reflects other housebuilders’ views that the housing market remains uncertain. </p><p>Some housebuilders have reported house price increases for the first time in months, while others report that the usual spring sales uplift has failed to materialise. </p><p>Latest HBF survey results show falls in site visitors and net reservations, and an April balance of 17% of housebuilders expecting higher sales in 2005 – down from 40% in March.</p><p></p><table><tbody><tr><td><table><tbody><tr><td><b> Activity in the month compared with the same month a year ago (balance&amp;*)</b></td></tr> <tr><td><b> </b></td><td><b>Jan</b></td><td><b>Feb</b></td><td><b>Mar</b></td><td><b>Apr</b></td></tr> <tr><td> Site visitors</td><td>-23</td><td>-31</td><td>-18</td><td>-26</td></tr> <tr><td> Net reservations</td><td>-31</td><td>-23</td><td>-36</td><td>-35</td></tr> <tr><td><b> Net house price change during the month (balance&amp;*)</b></td></tr> <tr><td></td><td>-6</td><td>-7</td><td>-22</td><td>-20</td></tr> <tr><td><b> Companies expecting higher sales in 2005 (balance&amp;*)</b></td></tr> <tr><td></td><td>+34</td><td>+46</td><td>+40</td><td>+17</td></tr> <tr><td> The HBF survey is based on responses from over 400 companies …

Continue reading

To continue reading this article please login or register.

Login

Forgot your password?

Register for free

Quick and free registration

Register