The firm issued a trading updated and revealed that total completions were up 144% to 1,096 homes against Q3 2020 when the industry was impacted by the first national lockdown. In its third-quarter in 2019, the business completed 1,055 homes.
Adjusted revenue in Q3 2021 rose 184% to £287 million against Q3 2020. During the three months, Countryside’s net reservation rate increased 53% to 0.81. In its year to date, Countryside has completed a total of 3,686 homes, up 36% on the comparable period the previous year.
It added that at the end of the quarter, it was active on a total of 114 sites, down on Q3 2020s 131. Countryside blamed this on delays to site starts, “largely driven by planning taking longer than usual”.
As of the end of June, Countryside’s total forward order book stood at £1.2 billion. This is in line with the position at its half-year. It said it was 99% forward sold for the year across all its tenures at the end of June.
Iain McPherson, Countryside CEO, said: "Trading in the third quarter leaves us on track for the full year. We are making good progress with our plans to grow Partnerships where our differentiated mixed-tenure model positions us well for the future."
