Demand for spacious homes after lockdown boosts Springfield sales

Housebuilder Springfield Properties has enjoyed a rebound in sales since it resumed operations in late June, as buyers increasingly turn to “spacious homes with private gardens and easy access to plenty of green space”. The company, which is Scotland’s only listed housebuilder, said demand was high and that it had a “substantial backlog” of orders. As a result, bosses expect total revenue for the first half of 2020/21 to be about 17% higher than the same period last year, with net debt coming in at £33.6m, a reduction of more than half. The growth largely reflects the completion of homes that had been scheduled to be delivered in April and May, the company said. For the previous two years, these months had accounted for 30% of annual revenue. Springfield chief executive Innes Smith said: “We reopened to significant sales interest, reflecting pent-up demand and the increasing desirability for spacious homes with private gardens and easy access to plenty of green space; the type of housing Springfield offers.”