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25 Jul 2019 | 08:38

Countryside Properties expects to meet expectations despite slight dip in home sales

Homebuilder Countryside Properties said it had sold slightly fewer homes and at lower prices in the third quarter of the year, but added that it remained on track to deliver full year expectations. For the 13-week period from 1 April 2019 to 30 June 2019, total completions was in line with prior year at 1,055 homes (Q3 2018: 1,060 homes). Private average selling price fell slightly to £374,000 in the quarter from £376,000 a year earlier. The net reservation rate was up 12% to 1.00 (Q3 2018: 0.89), and total forward order book rose 17% to £1,135m (Q3 2018: £967m). Its partnerships division saw total completions rise 5% to 865 homes, up from 823 homes last year. While its housebuilding division also performed in line with expectations during the quarter, with total completions of 190 homes (Q3 2018: 237 homes) as a result of anticipated build phasing. 'With build programmes on track, our focus now continues to be one of converting our private for sale reservations into completions in the fourth quarter. We are active on a total of 135 sites (Q3 2018: 122 sites) and remain on track to deliver full year expectations,' Countryside Properties said.

At 8:38am: (LON:CSP) Countryside Properties PLC share price was +1p at 299.6p

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