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The Eaton and Winster show home at Upton Dene

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8:42 am, January 28, 2010
Morris Homes buys more sites as sales recover

By Michael Fahy

Wilmslow-based housebuilder Morris Homes has embarked on a land buying spree as it reports improved conditions in the housing market.

The company has spent £27m on new sites at Peterborough, Telford, Worcester, Melton Mowbray, Marple and St Helens. It is also reporting a 43 per cent increase in sales for the nine months to the end of December.

"Conditions improved significantly as we moved through last year,” said chief execuitve Mike Gaskell. “Our focus on building high quality family homes, and purchasing sites in areas of strong demand, has helped us to capitalise on this renewed confidence amongst homebuyers and achieve positive sales growth".

The company said that it had also re-opened seven mothballed sites during the period and a expected a further six sites to open by the end of March, bringing its total number of site back to more than 50 for the first time in three years.

In the year to March 31, 2009, it declared an operating profit of £21m on sales of £112m.

"We are well positioned to capitalise on further improved levels of buyer demand this year following an increase in build activity and our long-term strategy of building high quality family housing".

Morris Homes was recently selected as preferred developer by the Homes and Communities Agency (HCA) to deliver Cambridgeshire's first zero carbon village.

COMMENTS? mfahy@crain.com