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TODAY'S OTHER NEWS

More house builders report strong post-referendum market

Countryside Properties and Telford Homes are the latest housebuilders to report good trading conditions following the result of the EU referendum.

Countryside, an urban regeneration specialist, told the City in a trading update that business over the summer and into the autumn had been “robust”. During the three months following the referendum, it admits there had been a rise in cancellation rates “but this has been more than offset by trading since”.

For the year ending September 30 total completions rose 12 per cent to 2,657 properties against the equivalent period in 2015. Its housebuilding division “performed well” with total completions increasing 20 per cent to 783 homes with average selling prices up 14 per cent to £667,000.

Its higher-priced Millgate division saw 81 completions against 52 in 2015.

Meanwhile Telford Homes told the City that it remained confident about the current and future market in non-prime areas of London thanks to the capital’s significant supply and demand imbalance.

It added that since the start of September, it had seen an increased number of reservations.

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