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Housebuilder says demand has peaked

Shares in housebuilder Bovis fell 8% this morning after the company announced that interest in its new houses may have peaked and demand levelled off.

Housebuilder says demand has peaked

The share price dropped 77p to 843p after Bovis issued a trading statement saying it had secured 2,282 reservations on new properties so far this year – only nine more than the same period last year.

“These figures reflect a recent slowdown in both visitor rates and in reservation rates,” said the company statement, adding that its aim to sell more houses in 2007 than in 2006 “will depend on consumer confidence over the key summer and autumn selling period.”

The announcement also affected other housebuilders including Taylor Wimpey which saw share prices fall 15.5p to 346.5p and Persimmon which lost 34p to 1180p.

About Fiona Russell-Horne

Fiona Russell-Horne
Editor-in-Chief across the BMJ portfolio.

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