Affordable housing boosts developer

09-Aug-2005

Property developer Morgan Sindall has announced rising profits thanks to a surge in demand for affordable housing schemes.

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Announcing a 39 per cent increase in profits for the first half of 2005, compared to the same period last year, the company pointed to the increase in affordable housing developments as a major factor in its rising profits.

Morgan Sindall's subsidiary, Lovell, is the UK's largest provider of low-cost housing, and showed increasing profits, with opportunities for first time buyers to access affordable housing developments appearing to be greater than ever.

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The news will come as a boost to first time buyers, especially as Morgan Sindall gave a very positive outlook for the future of its affordable housing division, with more developments aimed at attracting first time buyers and key workers expected across the UK.

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