The Miller Group has seen a 104% increase in forward sales, with £108m sales secured for 2010 against £53 million at the start of last year.
Reporting ahead of its results for the year ending 31 December 2009, the privately owned housebuilding and construction company said it had opened seven new developments during 2009 and planned to start a further ten this year.
Miller anticipates achieving planning for around 14,000 plots over the next five years. Its landbank stands at 8,300 units against 2008’s 10,300. “We do not expect to make any further landbank writedowns,” the company said.
But it added that a housing market recovery was still some time away: “Restricted mortgage availability and the application of lender policy’ by valuers to the valuation process, if perpetuated, would represent a serious obstacle to the return of a more normal housing market.”
Source: Housebuilder
See Also: Property News (6699), Miller Homes (2), Miller Group (1)
Date Published: 13 January 2010
Related News
