MJ Gleeson has reported a rise in the reservations it received as the low-cost housebuilder capitalises on an increasing demand for affordable housing, writes Charlie Taylor-Kroll.
In its AGM statement, Dermot Gleeson, the housebuilder’s chairman, said that net reservations were up 40pc over the last six months to Dec 6.
Some 71pc of MJ Gleeson customers are “taking advantage” of the Government’s Help to Buy scheme, he told shareholders.
MJ Gleeson said it hoped to complete around 10pc more houses in the second half of the year compared to the first half.
The Sheffield head quartered company has sought to address the national need for affordable housing by focusing on building houses with an average selling price of £125,000.
Russ Mould, investment director at AJ Bell, said that the housebuilder is in a “nice position” adding that the company is “fulfilling a burning need for affordable housing”.
In the statement, Mr Gleeson said that the company’s outlook remained positive due to the company’s “ability to offer attractive levels of affordability” to customers.
Housebuilder MJ Gleeson said that reservations were up 40pc