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South East Construction Firm Bovis Build Record Number of Homes

South East construction firm Bovis Homes built a record number of residential properties in 2014 and aim to take their achievement even further in 2015. Speaking as part of a trading statement for the year, the company announced that they achieved a 29% growth in legal completions in 2014, successfully erecting 3635 homes throughout last year.

Despite an evidence that the UK housing market is continuing to cool, Bovis Homes claim to be confident that they can continue their impressive growth in 2015. The picture already looks good. Last year the firm broke their record for land investment, adding 7300 plots at 42 sites across the region to the consented land bank.

Picking up plots

The number of consented plots in Bovis’s land bank now amounts to an impressive 18,000, providing the company with room for 5 years of expansion at the current rate. By picking up plots at twice the rate that they are selling homes, Bovis are making a clear statement of intent. This is a home builder ready, willing and fully intending to grow for the foreseeable future, despite economic unpredictability.

Record reservations

The future’s already looking bright. The company have a personal record number of reservations for 2015 deliver, with 1752 individuals already eager to jump into a new Bovis property. At the start of 2014, the company had a very respectable 1377 reservations, entering the year with positivity. Now they are entering 2015 with renewed vigor and a 27% increase in reservations for the coming year.

Improving margins

Things are also looking good for the business’s operating margins. Average selling prices in 2014 rose steadily by 11% which has taken Bovis’s operating margin from 14.9% up to 17%.

Chief executive of Bovis Homes, David Richie stated: We have continued to execute our strategic plan successfully despite the housing market moderating in the second half of 2014.

“The size of the business is set to grow further after a record year of land investment in 2014.  Subject to market conditions being similar to 2014, we expect to deliver further growth in revenue and profit, giving rise to further improvement in returns in 2015.”

Are you excited about the growth of home building in the South East? Have you worked on residential projects in the region this year? Share your story and opinions with other tradespeople below or explore Bovis’s current vacancies on their website.