Strong markets give Strata a profit boost

Irving Weaver Strata Homes
Irving Weaver Strata Homes
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Strata Homes profits and sales rose last year, as the “resilient” housing market was supported by low interest rates and more affordable mortgages.

The Doncaster-based company’s performance was also boosted by the fact that more Britons believed their jobs were secure as the UK economy improved.

In the year ending December 2014, Strata’s sales rose by eight per cent to £86.5m. The company’s profit before tax was £9.5m, which was a healthy increase on the £9m achieved in 2013, while the average selling price rose to £174,000 from £154,000.

Irving Weaver, Strata chairman, said: “There has never been a better time for people to step on the housing ladder, with low interest rates and initiatives like Help to Buy. All the political parties are fully supporting steps to boost the housing supply.”

However, Mr Weaver stressed that it took time to respond to the demand for new housing. He said it was widely agreed that 250,000 new homes a year were needed to meet demand. The last time the UK built on this scale was in 1979.

“There will have been around 150,000 houses built in the last year and that figure is slowly rising,’’ he added.

“Smaller building firms have got to get started, and that means that bank lending has got to start coming through.”