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Vistry Group PLC on Thursday maintained its full-year expectations as it said the UK government’s affordable housing support measures are starting to boost demand. In a trading statement for the period to date from July 1, the Kent, England-based housebuilder said its overall sales rate was up 11% at 0.81 compared to the same period a year ago at 0.73. Vistry credited this rise to ‘strengthening’ demand from registered providers and local authorities and a ‘continued momentum’ in the second half. Vistry said it is ‘encouraged by the early impact of the government’s affordable housing support measures, which are starting to have a positive effect on new partner contracts.’ The company previously announced it had received confirmation in September that it had secured a £50 million grant award from Homes England as part of additional grant funding announced earlier in the year. Vistry said it has ‘made good progress in the allocation of this grant, which will include the support of delivery of affordable housing schemes within 2025.’ The company said it saw a ‘small improvement’ in open market sales rates since the summer, but said it remains ‘cautious as to the pace of demand recovery in the open market amid the short-term economic uncertainty which it said was driven by the Autumn Budget. The company said it secured a total of 3,503 plots, down 19% from 4,256, across 11 sites compared to 16 a year ago. Vistry said build cost inflation for financial 2025 remains ’in line with expectations and is currently tracking at low single digits‘. The company said its full-year expectations are unchanged and is ’confident‘ about delivering year-on-year profit growth for the full year. ‘We continue to see significant opportunity for growth in the medium-term, underpinned by strengthening partner demand and our differentiated model,’ the company said. Chief Executive Greg Fitzgerald said: ‘As expected, activity levels have continued to build through the second half of the year and I am encouraged by the progress being made across the group. Recent interactions with partners and government demonstrate an appetite for increased pace in the affordable housing sector and reinforce our optimism for the years ahead. ‘We remain well positioned to play a key role in the delivery of the Affordable Homes Programme and in supporting the broader growth ambitions for the sector.’ Shares in Vistry rose 1.9% to 640.11 pence on Thursday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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