Housebuilder reports buoyant sales despite pandemic disruption
East Yorkshire-based housebuilder Beal Homes has reported strong sales, despite the disruption to the housing market caused by the virus.
Beal says it has achieved 97% of its forecasted sales in the year to date, with sales in August to October 16% ahead of the same period in 2019.
And the company’s revenues and profits are also on track to be close to forecast for the full year.
Beal says its performance is driven by people seeking more space and flexibility, including houses which can accommodate working from home.
It notes this was reflected in the launch of its latest luxury development, Pilgrims Walk in Hessle, which saw house hunters reserve more than half of the homes in the first release, worth a total of £3.15m.
Across all of Beal’s developments in Hull, East Yorkshire and Lincolnshire, only four homes are now available to buy and move into by the end of the year.
As a result Beal is now releasing homes which will be available to move into in the last quarter of 2021.
Chief executive Richard Beal said: “Our sales performance has been strong for a considerable time and has been exceptional since the first lockdown, reflecting how people have reassessed what they want from their home.
“People have spent much more time in their homes over the past few months and many of them have decided they need more space and flexibility, including to accommodate working from home.
“Our performance also demonstrates that we were right to stay focused on delivering our developments and serving our customers during a very difficult period.
“While some of the national housebuilders shut down all their construction and sales operations for prolonged periods earlier this year we halted work on our building sites for a few weeks to review all our working practices and introduce a wide range of measures to allow us to resume work entirely safely.
“Our sales teams never stopped supporting customers, while working very differently and making full use of innovations such as 3D interactive virtual tours of our house types.”