Northern Builder avant homes has submitted plans to more than double turnover in the next five years on the cheap housing market shows no signs of cooling.
The company is expected to achieve the goal to achieve £500m turnover and the construction of 2,000 houses this year, a year earlier than planned. He hopes to hit the £1bn turnover and 4,000 homes by 2023, he said on Monday.
Complete this many homes per year, would have made it about the same size as specified rival bovis, which sits in the FTSE 250.
Colin Lewis, avant’s chief Executive, said he plans to achieve the goal of expansion into new areas of the UK, with a focus on creating more affordable housing, where demand is strongest. Last year, the average sales price of avant for the house was $ 257,000.
He said that the market was in a good position for Avant to expand: “the land market is benign, supports the planning, although we always want it to be easier mortgage rates are at record low levels and we have the Support of the Government with such things as help to buy,” he said.
“In a broader sense, the group is still encouraged by the bipartisan support for addressing the housing shortage in the UK.”
House building in England reached its peak in the late 1960-ies
Currently the company is building in Yorkshire, in the North of England and the Central belt of Scotland with five regional offices. Mr. Lewis said he wanted to add two more regional bases of the company in the coming years.
This year on April 27, Avangard increased its revenues 21pc to £ 447m, home of 1,903. Its production land currently stands at 7,492 sites.
The latest analysis of housing prices from the national last week showed that prices are rising more slowly than before the 2016 referendum, the European Union, but the lack of homes for sale expected to continue to strengthen the market.