Crest Nicholson rides on sales boost after designing homes to suit the digital generation

Builder Crest Nicholson said its sales have been boosted by homes designed to meet the needs of the digital generation, writes David Craik.

 New properties are now built with wiring ready for internet and entertainment not pictured New properties are now built with wiring ready for internet and entertainment (not pictured [GETTY]

New properties were now built with wiring ready for internet and entertainment systems, said finance director Patrick Bergin.

“We have gone where the trends are leading and that means putting digi-plumbing in our designs. So we make sure that people wanting to work from home and kids watching TV or playing computers in a variety of rooms can have good connectivity,” he said.

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Crest, which returned to the stock market last February, said pre-tax profits surged 40 per cent to £80.9million in the year to October 31 on revenues 29 per cent better at £525.7million.

It sold 1,806 homes, up 35 per cent on last year with forward sales up 51 per cent at £329.5million. Helped by its focus on London and the South-east, average prices rose 9 per cent to £250,000.

Bergin said a quicker than expected housing recovery had been boosted by the Government’s Help to Buy mortgage scheme, accounting for a third of its sales, with buyer confidence also helped by falling unemployment.

Crest said demand was likely to remain strong this year. Its shares rose 2¾p to 355p.

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