Countryside Properties completions rise 47%, average selling price falls
Source - SMW
Countryside Properties reported a 47% increase in total completions while the private average selling price fell 11% to £394,000.
For the 13-week period from 1 October 2017 to 31 December 2017, Countryside said total completions rose 47% to 852 units versus 581 units in Q1 2017, net reservation rates were 0.70 versus 0.73 in Q1 2017.
Private average selling price ("ASP") fell 11% at £394,000 with underlying sales price growth of 3% versus £443,000 in Q1 2017.
'Current trading remains robust, with the net reservation rate tracking in line with expectations and an underlying sales price increase of 3%,' Countryside said.
'We see the strongest demand in the price points below £600,000, which represents over 90% of our private sales'
Countryside reported a strong private forward order book of £242.9m versus £292.9m in Q1 2017.
'The record year-end forward order book has enabled a very strong first quarter, with completions ahead of expectations and accelerated cash delivery,' Countryside said.
Open sales outlets rose 7% to 49 versus 46 in Q1 2017.
'We anticipate continued outlet growth in the remainder of the year as we convert our active sites to open outlets,' Countryside said. 'With good visibility of future growth, we expect performance for the full year to be in line with current market expectations.'
At 8:59am: (LON:CSP) Countryside Properties PLC share price was -1.1p at 332.9p