Part-exchanges boosting Bovis

BOVIS Homes today said it has seen an increase in the number of buyers going for a part-exchange option, amid Brexit uncertainty.

The FTSE 250 builder said the model, that allows purchasers to trade in their home as partpayment for a new property, was running at 15% of total reservations in the second half, up from 8% in the prior six months. It said Brexit has affected some “discretionary buyers”.

However, it continues to target a record year of profits for 2018.