Modest price increases for Bovis Homes

Bovis Homes found the housing market to be steady in the first half, experiencing only modest increases in house prices.

In a trading statement issued to the Stock Exchange this morning, Bovis revealed that completions rose 16% from 1,089 in the first half last year to 1,262 with the average selling price up 5% to £188,700 due in part to a reduced contribution from social housing.

The group's operating margin is expected to be in line with last year's figure.

Bovis's interim results will be announced on 11 September.