Housebuilder’s land sales delayed by political uncertainty

Low-cost housebuilder and strategic land specialist MJ Gleeson said it had a number of land sales bumped last year amid ongoing political uncertainty. Ahead of its results for the half-year ended 31 December, the company said its strategic land first-half results will be “significantly down on an unusually strong comparator period”. It said the delayed sales are expected in the second half of the year “as greater certainty has returned to the market following the result of the General Election”. It noted strong demand for consented land and said anticipated deal flow in the second half of the year will enable full-year results for the period to 30 June in line with expectations. In the first half of the year, Gleeson Homes completed the sale of 811 units, an increase of 17.4% on the previous year. It said the group is on track to deliver unit completions also in line with expectations. MJ Gleeson will report its results for the half-year on 13 February. To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette