The Diamond Jubilee was no good for house-builders as buyers fled the country or put moving on hold to join in the celebrations, Bovis Homes said today.
The firm saw “robust” trading in the first half but the four-day break gave added headaches for an industry dealing with a sluggish economy and a tough mortgage market as visitor numbers slumped.
Chief executive David Ritchie said: “We didn’t see a lot of people during that two-week period before and after the long weekend.
“A lot of people clearly took the opportunity to get away. Most of our visitors to the sites come in a four-day period from Friday to Monday, but we saw a dramatic short-term fall in visitors.”
But the housebuilder sold
944 homes in the first half of 2012 — up 18% on last year — while average sales prices rose 1% to £164,400. Cheaper land bought since the crash is also fattening profit margins, which are expected to hit 21% in the first half.
