Vistry, the housebuilder that overtook Barratt as the 海角视频's largest in September last year, has reported a significant decrease in profit but anticipates a resurgence in activity later in the year as government investment in affordable homes begins to impact the market.
The company informed markets that it predicts an adjusted operating profit of £125m for the first half of the year, a 25 per cent drop from £161.8m the previous year, as reported by .
During the first half of the year, it completed 6,800 homes, a decrease from 7,792 the previous year.
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However, Vistry is forecasting a year-on-year increase in profit, with funding for affordable homes "expected to underpin a step-up in volumes" in the latter half of the year.
In its June spending review, the government announced a £39bn investment for the 海角视频's Affordable Homes Programme.
While housebuilders like Vistry have largely welcomed the investment, some have cautioned that it still falls short of adequately addressing the 海角视频's housing market issues.
Vistry stated that it was "uniquely aligned" with the government's housing objectives.
"We expect to play a major role in the delivery of the new Affordable Housing Programme... I.T. will enhance our delivery capability and flexibility," said the FTSE250 firm.
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Property analyst Oli Creasey from Quilter Cheviot concurred, noting: "The newly announced Affordable Homes Programme and other policy initiatives are expected to stimulate demand in the second half of 2025 and beyond... Vistry's partnership model positions the business well to benefit from this anticipated uplift."
Further details on the 2026-2036 programme will be released in August, with initial allocations set for the first half of 2026.
Yet, an additional £2 billion of 'top-up' funding – which remains within the £39 billion investment framework – is slated to become accessible through the current 2021-2026 programme later this year.
Vistry has reported that its net debt stands at a "significantly better than expectations" figure of £295 million, marking a decrease from £322.0 million in the previous June, despite starting the year with a £92 million higher opening balance.
In the first half, Vistry secured 3,113 plots across 14 developments, a decrease from the 8,225 plots over the same number of developments last year, as the housebuilder aims to reduce its landbank in line with its capital strategy.