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It has grown to become one of the largest housebuilders in the UK. [3] In the year to 31 December 2023, Cala Group sold 2,917 homes, had a turnover of £1.3 billion and reported a pre-tax profit of £112 million. It employed over 1,300 people across 10 offices. [4]
The gap between average income and average housing prices changed between 1985 and 2015 from twice an average salary to up to six times average income. Median house prices in London the median house now cost up to 12 times the median London salary. In 1995, the median house price was £83,000, 4.4 times the median income.
The National Federation of Builders (NFB) is a United Kingdom trade association representing the interests of regional contractors and small and medium sized house builders (up to 250 homes per annum) in England and Wales. [1]
Not only has there been an increase in the volume of homes delivered, but the total value of homes delivered is also a 1.4% increase on the previous year.
On 7 February 2024, the company made an agreed offer to acquire Redrow for £2.5 billion. [52] On the same date, both firms had confirmed reduced revenue and profit. [53] The merged businesses would create a house builder, Barratt Redrow, turning over £7.45 billion and delivering over 22,600 homes a year. [54]
Other positive factors included a focus on increased operational efficiency, [18] a shift upmarket, [19] and rising land and house prices at a rate of roughly 10 per cent during this period. [ 20 ] [ 21 ] In June 1999, the firm announced that pre-tax profits had risen by 44 per cent to £44.1 million.
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In September 2005, the company acquired Fairclough Homes (then building 1,500 houses per year) in exchange for £246 million, which took Miller Homes to its target of 4,000 houses per year and put it into the top ten largest house builders. [3] [10] Shortly thereafter, Miller Homes underwent a restructure of its nationwide operations. [11] [12]