The firm attributed the boost to higher selling prices and higher volumes of new home sales, aided by an increasingly competitive mortgage market.

Volumes increased 7 per cent to 6,855 units (2014: 6,408) thanks to improved confidence post-general election and the average selling price for the group increased by 4 per cent to roughly £195,000 (2014: £186,970).

For the first half of the year the group’s weekly rate of sale into the private sale market was 11 per cent ahead of the prior year. At 30 June forward sales volumes into the private sale market were 12 per cent ahead of last year at 4,606 new homes with an average selling price of c. £213,000, 4 per cent ahead of last year. Total forward sales value at 30 June increased by 15 per cent to £1.36bn (2014: £1.18bn).

The trading update stated: “We successfully opened 122 new sites in the first half of the year despite experiencing a slow-down in the planning application process in the period running up to the general election. As a result our outlet network at 30 June of 395 active sites was c. 5 per cent stronger than at the start of the year. We continue to actively develop all sites where we have an implementable detailed planning consent and plan to open a further c.125 new sites during the second half of the year.

“The land market continues to provide attractive opportunities for investment to support the future growth of the business. We have acquired c. 11,500 new plots of land across the UK during the first half and our consented land bank at 30 June totalled c. 92,400 plots. We continue to take advantage of profitable opportunities to strengthen the land platform for the future development of the business.

“The third payment of our Capital Return Plan of £291 million, or 95p per share, was accelerated and paid on 2 April 2015 in line with the long term strategic plan adopted by management. The group’s total free net cash inflow before capital return in the first half of the year was c. £191m (2014: £122m). Due to this strong liquidity cash holdings at 30 June were c. £278m (30 June 2014: £326m).”