Bovis Homes sees downturn in housing market

Bovis Homes today (Thursday) said it sold fewer homes in the first half of the year as consumers remained cautious, and added that the second half will see more uncertainty.

The housebuilder said it made 1,089 completions in the first six months of this year against 1,302 in the first half of 2004.

This compared with a 24% fall in overall transactions in England and Wales as a whole.

Prices have also fallen. Bovis' average sale price was £179,800 in the first half compared to £201,100 a year earlier.

"Unless there is a notable increase in reservation levels during the period August to October, it is unlikely that the group will achieve the planned level of volume expansion this year," the company said.