House price inflation boosting Bloor Homes profit

The countries largest privately owned housebuilder has reported on its accounts up to June 2022 with a pre-tax profit of over £317.65m, a 21% increase from the previous year.

With house price inflation contributing to the growth in profit and turnover, the business rose 9.6% from £1.25bn to £1.37bn.

Despite labour and materials shortages, additional plots were sold in 2022, 4,241 compared to 4,075 in 2021, causing Bloor Homes to be ranked 9th in Housing Todays most recent Top 50 Housebuilder rankings.

The developer’s growth continues despite the current economic uncertainties, and their Site Managers carry on maintaining their standards, with 12 across the country collecting the prestigious Pride in the Job and Seal of Excellence awards, released in late 2022.

It said: “Recent increases in the Bank of England base rate, and subsequent increases in mortgage loan rates, have made the landscape more challenging, but the company remains optimistic and well-placed to navigate the situation.”