AVANT HOMES’ EXCELLENT HALF YEAR PERFORMANCE BUILDS ON PERIOD OF SIGNIFICANT TRANSFORMATION

The group has acquired 25 new sites in premium locations since January 2015, which are projected to deliver over 3,100 homes. The number of average active sites across the period is up by 23 per cent to 34 and the business has achieved 721 total completions, up 27% compared with the prior year.

Colin Lewis, chief executive of Avant Homes said: "Following a period of significant transformation, Avant’s excellent progress in the first half of this financial year is testament to the hard work we have undertaken since our change of ownership in December 2014. Our focus on building design-led, family homes in prime locations across Yorkshire, the Midlands, the North East and the central belt of Scotland has driven significant growth across all of our key metrics with total volumes and sales rates increasing alongside our average selling price.

“The strength of trading since the EU referendum further underlines the resilience of the markets in which we operate where demand for our aspirational, family homes has remained high. However, despite this strong trading, continuing macroeconomic uncertainty remains and I would therefore urge the Government to utilise the forthcoming Autumn Statement to set out its plans to support the UK housing market.”

Avant Homes has undergone a period of transformational change since 2014. Investment from new shareholders significantly strengthened the Group’s financial position and provided it with the firepower to invest in new land. This investment has seen the Group streamline its infrastructure, creating one single Avant brand in October 2015 while also improving internal IT systems and management reporting structures.

The Group is now looking to further grow to become a £500m turnover, 2,000 unit per annum business and will achieve this by scaling up its four regional divisions whilst maintaining a midmarket focus, aspirational, design-led product and a disciplined approach to land buying.

Today, the Group employs over 550 staff and operates across 38 active sites in four regions across the Midlands, Yorkshire, the North East and central belt of Scotland.