Countryside sees 'outstanding' year of growth

Countryside sees 'outstanding' year of growth

Countryside Properties has reported on its full year results for the year ending September 30 2017 and revealed that total completions (for its two divisions) saw a rise of 28% to 3,389 homes against the equivalent period in 2016, on total adjusted revenue of £1,028.8 million, up 32%.

The group’s private average selling price declined as planned, to £430,000 from 2016’s £465,000.

Countryside’s Housebuilding division “significantly” increased total completions to 1,197 homes, up 53%. This was driven by increased production which started last year, combined with strong customer demand below the £600,000 level, the company said. Private completions for the division rose 68% to 837 homes.

Open sales outlets for the year in Housebuilding were down one to 24, (2016: 25) as a result of a high rate of sales leading to a number of sold out sites. The private Housebuilding ASP declined 23% to £515,000, in part reflecting Countryside’s decision to move away from higher priced properties.
In the Partnerships division, total completions climbed 17% to 2,192 homes with private completions up 31% to 825 homes. The private ASP in Partnerships improved 12% to £343,000.

Countryside said that its net reservation rate – covering both divisions – was above its target range at 0.84 reservations per open sales outlet (2016: 0.78) on an increased number of open sales outlets at 47 against 2016’s 43.


The group private forward order book rose 8% to £242.4 million.

Ian Sutcliffe, Countryside’s group ceo, said: “With completions up 28%, 2017 has been another outstanding year of growth as our mixed-tenure model has met the demands of the housing market. We are pleased that the actions we have taken during the year to ensure our product meets the areas of strongest demand are delivering results.”

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Tony Gimple
Tony Gimple 09 Dec 2017

Linking professionalism to limited company borrowing is a flawed concept. Despite S24 etc., limited companies are the most tax inefficient way of running a property business and leave borrowers seriously...

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Evelyn Attwood
Evelyn Attwood 01 Dec 2017

It's normal. If you plan to buy a house in one of the most beautiful spots in the country you should pay a high price.

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Evelyn Attwood
Evelyn Attwood 01 Dec 2017

I think that the situation will be the same at December.

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Scott Garnet
Scott Garnet 06 Nov 2017

If you have a patio or a porch it is important to make sure that any connecting doors are secured. Good advice for sliding glass doors is replacing the panels with storm resistant glass and getting heavier...

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richardrawlings
richardrawlings 01 Nov 2017

What has not been mentioned here is the effect of not only higher interest payments, but also that these payments are less likely to be offsettable as a business cost due to the scaling back of mortgage...

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Kelvin Lloyd
Kelvin Lloyd 09 Oct 2017

IT is up, to the Planners. If they will only give permission for bungalows on certain (suitable) sites, they will be built.

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maggie swift
maggie swift 09 Oct 2017

It's just the beginning of the shocking rise.

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maggie swift
maggie swift 09 Oct 2017

I have recently read that the bungalows can provide social housing for elderly residents in London.

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zoe glover
zoe glover 05 Oct 2017

Update! Worst company I have ever dealt with. Undervalued a Cambridge property by over 100k, wont take on any evidence of valuation including a RICS valuation done 3 years ago for the very same value...

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Paul Edwards
Paul Edwards 27 Sep 2017

Its nonsense articles such as this that make it harder to get clients to realise just how difficult the market is out there. When you see Rightmove and there are more 'price reduced' then 'new' most days...

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Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

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RyanGeo
RyanGeo 18 Sep 2017

A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

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