LONDON (ShareCast) - (Sharecast News) - Vistry Group reiterated its full-year outlook on Wednesday, after the house builder saw an improvement in its sales rate.
Updating on trading ahead of its annual general meeting, Vistry said the sales rate in the year-to-date had increased since its last update in March, to 0.91 from 0.59.

In the last eight weeks, it averaged 1.32, comfortably above the average rate of 1.17 seen a year previously.

The housing market has seen a surge in demand in recent weeks, as buyers rushed to complete before changes to stamp duty thresholds came into effect in April.

However, Vistry said: "In the open market, we have seen an improvement in our sales rate over the past eight weeks, and we expect this trend to continue.

"Mortgage availability and affordability is improving, with lenders increasing their product range and borrowing rates reducing ahead of further expected cuts to the Bank of England base rate.

"We continue to expect full-year open market volumes to be at a similar level to 2024."

It concluded: "The group is making good progress and continues to expect to deliver a year-on-year increase in profits in the 2025 full-year with, as previously guided, a more significant second half weighting than in prior years."

Vistry's forward order book now totals £4.6bn, marginally down on last year's £4.9bn, with £2.1bn due for delivery this year.

As at 0915 BST, shares in Vistry were down nearly 3% at 616.78p.

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