Crest Nicholson reports increased sales in early 2025

Crest Nicholson, a housebuilder, reported an increase in sales during the early months of 2025. This comes after the company faced a significant loss in 2024. Open market sales rose to 0.61 homes sold per site each week, compared to 0.50 homes last year. After sharing this news, Crest Nicholson's shares jumped by 10% on Thursday. The company’s recent struggles have been linked to operational issues, high interest rates, and challenges in the housing market. Chief executive Martyn Clark, who started his role in June 2024, noted positive changes from recent efforts to improve sales and operations. He expressed optimism about the company's future but acknowledged that many challenges remain. Despite the increase in sales, Crest Nicholson pointed out that the housing market is still vulnerable. Consumer confidence is low, and while mortgage rates might be improving, inflation could delay further interest rate cuts. The Bank of England is expected to keep interest rates steady at 4.5% this week. Rising inflation in early 2025 could hinder progress, according to experts. The company also mentioned uncertainties in the global economy that could impact the housing market.