Yesterday HBF, the Ministry of Housing, and the MHCLG have released a joint announcement confirming the governments position regarding the ongoing of the housebuilding industry as the second UK lockdown begins tomorrow.
All housing market activities to remain open provided health and safety measures are compliant, this includes:
- Home repairs and maintenance
- Sales / show homes
- Build safety remediation
- Viewing residential properties to look for a property to buy or to rent
- Moving house
- Visiting a residential property to undertake any activities required for the rental or sale of that property
House building – and its supply chains – should continue working securely. The Government is clear
that work can continue if this is done in line with public health guidance. Construction and other site
workers can go to work. Care should be taken to respect social distancing while travelling to and
from work as well as in the workplace.
Encouraging news from Crest Nicholson
After racking up a £51 million loss after the first lockdown, Crest shares have now risen by more than 16% after stating its annual pre-tax profit would be at the higher end of its previous forecast of between £35m- £45m and “significantly ahead” of analysts’ with expectations of £37.9 million.
At the end of its financial year on October 31, the builder had an order book of 2,289 homes, compared with 2,013 last year, with net cash of £135 million up from £37.2 million a year ago.
Confidence in moving home and stability of house prices will be a critical part of a successful economic recovery from this pandemic . . . The introduction of another national lockdown will undoubtedly bring fresh challenges, but we welcome the government’s support to maintain construction activity and for the housing market to remain open for business. – Peter Truscott, Chief Executive