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Crest warns election result may affect housebuilding

  • 15/06/2017
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Crest warns election result may affect housebuilding
Housebuilder Crest Nicholson has admitted the uncertainty following the general election result may have an impact on the housebuilding sector.

The firm announced its half-year results with revenues up by 3% to £419.7m, while profit before tax grew 5% to £76.2m.

Unit completions were slightly down on the same period from last year, dropping from 1,033 to 1,021. Nonetheless, the firm said it was on track to deliver 4,000 new homes and £1.4bn of sales by 2019.

Stephen Stone, chief executive of Crest, admitted that the election result had the potential to introduce uncertainty to the market, but said he expected the new-build market to remain “robust”.

He continued: “Strong levels of employment, low interest rates and good mortgage access – including through the Help to Buy Scheme – should all contribute to a sustainable new build housing market.”

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