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MJ Gleeson PLC on Friday said that Gleeson Homes traded resiliently amid modest build cost inflation since the start of 2026. The Sheffield, England-based housebuilder said Gleeson Homes, since February 11, ‘has experienced resilient trading through the period’, citing the 11 weeks to April 24. MJ Gleeson noted modest build cost inflation since the start of 2026, while underlying selling prices on open-market and partnership sales have been broadly stable. ‘Protecting margin continues to be a priority,’ the firm said. MJ Gleeson’s trading update came as Nationwide Building Society reported that UK house price growth sped up to 3.0% on-year in April from 2.2% in March, beating FXStreet-cited expectations of another 2.2% rise. On a monthly basis, prices rose 0.4%, slowing from a 0.9% increase in March. It was, however, much to the contrary of an expected 0.3% dip, according to FXStreet. The average UK house price stood at £278,880 in April, up from £277,186 the previous month. MJ Gleeson Chief Executive Officer Graham Prothero said: ‘We are pleased that Gleeson Homes’ trading performance has been resilient in an uncertain market environment. ‘Whilst it is frustrating that further work is required on a number of legacy sites, I am pleased with the determination of our new management teams to identify and rectify legacy issues which now allows Gleeson Homes to look forward with confidence.’ He added: ‘It is too early to forecast the degree to which the crisis in the Middle East will impact customer confidence, mortgage affordability and build cost inflation over the coming months. ‘We have recently seen some softening in footfall and reservations, and limited increases in the cost of some materials. This, together with ongoing challenges with planning and site viability, prompts even higher than usual caution in how we manage the business, including land investment decisions, into the next financial year.’ MJ Gleeson expects that adjusted pretax profit for the current financial year to June 30 will be in line with market expectations, citing a consensus estimate of £18.2 million with a range of £12.9 million to £20.5 million. The consensus would be 17% lower than £21.9 million in the financial year 2025, a softer decline than that of 44% for the six months to December 31, when adjusted pretax profit had fallen to £2.0 million from £3.6 million. It would, however, be a sharper contraction than that of 12% in financial 2025, when it had declined from £24.8 million in financial 2024. MJ Gleeson shares rose 5.8% to 242.25 pence each on Friday morning in London. Its shares are 53% lower than a year ago. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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