Business

Completions slightly down at Linden

Warren Lewis
|
19th July 2019
construction 7

According to parent company Galliford Try, Linden Homes has maintained its good performance despite a slight dip in completions.

Issuing a trading update ahead of announcing its full year results on September 11, the housebuilding, regeneration and construction group said that during the year ending June 30 2019, its housebuilding arm delivered 3,229 unit completions, a dip on 2018’s 3,442 units.

Linden’s average private selling price was also down to £351,000 from last year’s £367,000, due to the housebuilder’s new focus on mid-range family houses as part of its Linden Collection, and its reduced activity in central London.

The housebuilder’s sales rate for the period was 0.56 per site per week from an average of 80 outlets (2018: 0.59 and 85).

Linden said it had a “strong” carried forward position of 2,564 year end units on 2018’s 2,326, reflecting a value of £375 million against last year’s £366 million.

Graham Prothero, GT’s ceo, said: "The group has continued to perform well, supported by good housing demand. Despite the weaker economic outlook, Linden Homes continues to see robust demand, with operating efficiencies driving strong margins and improving customer satisfaction.”

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