Finance
Crest Nicholson's half-year profit soars as domestic housing demand firms
Published by Global Banking & Finance Review®
Posted on June 12, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on June 12, 2025
1 min readLast updated: January 23, 2026
Crest Nicholson's profit tripled due to rising housing demand, driven by consumer confidence and lower mortgage rates. UK investments in housing are also increasing.
(Reuters) -UK Housebuilder Crest Nicholson's adjusted pre-tax profit more than tripled in the first half of the year, it reported on Thursday, as rising consumer confidence and declining mortgage rates boosted demand in the domestic housing market.
Britain's near four-year high unemployment rate in the three months to April has raised hopes for another round of interest rate cuts by the Bank of England, which analysts say will lead to lower mortgage rates and better affordability in the UK housing market.
"The housing market continues to show signs of stabilisation with an incrementally easing planning system, improving affordability and strong support from lenders," CEO Martyn Clark said in a statement.
Crest reported adjusted pre-tax profit of 7.9 million pounds ($10.71 million) for the six months ended April 30, up from 2.6 million pounds a year ago.
On Wednesday, British finance minister Rachel Reeves announced an additional 10 billion pound investment in the housing sector, which came on top of a 39 billion-pound 10-year programme announced earlier in the week.
($1 = 0.7376 pounds)
(Reporting by Yamini Kalia in Bengaluru; Editing by Tasim Zahid and Eileen Soreng)
Crest Nicholson reported an adjusted pre-tax profit of 7.9 million pounds for the six months ended April 30, up from 2.6 million pounds a year ago.
Factors contributing to the stabilization include an easing planning system, improving affordability, and strong support from lenders.
British finance minister Rachel Reeves announced an additional 10 billion pound investment in the housing sector, complementing a previous 39 billion-pound program.
Rising consumer confidence has positively impacted the housing market, contributing to increased demand and a more favorable environment for housebuilders.
The near four-year high unemployment rate has raised hopes for interest rate cuts by the Bank of England, which analysts believe will lead to lower mortgage rates and further stimulate the housing market.
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