In a recent trading update CALA detailed its growth plans while announcing the launch of two new regional divisions, the North Home Counties and the South Homes Counties.
CALA chief executive officer, Alan Brown, explained:
“We are the UK’s major upmarket builder operating in the high value market. So the best place for us to grow is in the more affluent areas of England, and they are around London.”
CALA believes that the effect of the National Planning Policy Framework is also starting to take effect.
The company feels that ‘responsible councils’ are now introducing five-year housing plans and encouraging development on preferred sites, which is also making land easier to buy in these areas.
Alan Brown confirmed that trading conditions have been good in the latest reporting period, from July 2013 to January, but that, due to the high value of the company’s product, ‘Help to Buy’ had not been a significant factor.
“At the upper end of the market there is not so much need for a mortgage and the vast majority of our customers don’t need ‘Help to Buy’. The growth for CALA is therefore based on a better market generally. I truly believe that there is an underlying strength to the market.”
By David Mote