Crest Nicholson ups profit outlook on booming homebuyer demand

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Housebuilder Crest Nicholson has hiked its full-year profit outlook after surging sales and said demand is set to hold up after the stamp duty holiday ends. Consumer confidence in the stability of the housing market, coupled with changing working patterns and lifestyle choices, have underpinned demand and meant both sales rates and prices have exceeded the pre-pandemic level Crest Nicholson Shares in Crest lifted 3% after the figures. It said: “Consumer confidence in the stability of the housing market, coupled with changing working patterns and lifestyle choices, have underpinned demand and meant both sales rates and prices have exceeded the pre-pandemic level. “Based on demand for homes which will complete after the September 30 2021 stamp duty deadline, we are confident that the housing market will remain robust and this transition can be managed smoothly.” The results come in stark contrast to a year earlier, when the group had plunged to a half-year loss and announced an overhaul, including plans to axe 13% of its workforce.