Completions up for Countryside

摘要

Countryside Properties saw a surge in completions in the year to October but a warning of a slowdown in the second-hand homes market led to a share price tumble on Thursday last week. In a trading update the firm said completions were up 27% at 4,295 homes in its latest financial year, while the private average selling price slipped 7% to £402,000 because of a greater regional mix of work. But Britain's 11th-biggest housebuilder warned that despite strong demand among first-time buyers and in the private rental sector, it is "seeing a more subdued tone from discretionary purchasers" - news that sent the firm's stock tumbling 11%. Countryside also reported a 55% increase in the number of plots under control of its partnership division, including just shy of 5,000 new plots from its £135m acquisition of Westleigh in April. The company's full-year results will be announced on 21 November.