Bovis builds 18pc more homes

The new average sale price rose 1% over the year to £164,400 although the group said market prices remained unchanged during the year to date.

Bovis expects to report a profit of £3.9m from land sales for the first half of the year and said NewBuy currently accounts for over 10% of its private reservations.

David Ritchie, chief executive of Bovis, said: "The Group has performed strongly in line with expectations in the first half of 2012 with a significant improvement in profit delivered from the ongoing successful execution of the Group's growth strategy.

“The continued success in the land market during the first half of 2012 with around 2,500 new plots contracted is positioning the Group for further growth in the future."

Results for the six month period to 30th June 2012 are due to be announced on Monday, 20th August 2012.