During the year ending April 27 2018, the Northern housebuilder saw its total home completions rise 16% to 1,902 against the equivalent period the previous year. Private completions also increased 16% to 1,625. Supporting this was a 6% lift in Avant’s private average selling price to £257,000, which drove a 21% increase in revenue to £447m.
The business said that its sales performance remained “very strong” throughout the year. Average sales per site per week dipped slightly from 2017’s 0.81 to 0.74, but across an increased average number of selling sites – up to 42 from last year’s 36. During the first six months of the 2018 calendar year, its sales rate was 0.79, mirroring last year and “evidence of the resilience of the Northern UK housing market”.
Avant’s fifth operating region – Central – which covers South Yorkshire, Derbyshire and North Nottinghamshire - is now fully operational and on site at its first three outlets.
As of June 30 2018, the business had forward sold 42% of the homes needed to meet targets for the FY19 full year, it stated.
Colin Lewis, Avant’s CEO, said the company’s product “continues to be our hero”, with its homes’ specification and design supporting its success. He added that Avant’s new “Bridge” range – featuring simpler designs – was on track for 20 new outlets in FY 19. Avant’s five-year strategy is to more than double its output to 4,000 homes on a £1 billion turnover.