UK house builder reports positive progress

One of the nation's chief house builders has announced its intentions to recommence dividends by the end of 2010 after improved trading reports.

The residential developer has increased output by 6 per cent in the first two quarters of this year compared to the same time period a year ago. The average price of private homes in the UK property arena has risen to around £163,500.

This upswing in fortunes follows a devastating period of depressed trading times suffered by the building industry. The many months of recession saw many companies mothball developments and thousands of industry workers out of work.

A statement for the company confirmed that the board satisfied with the improved outlook in trading expected to resume dividends at the end of the current financial year.

Predictions are that while tough credit restrictions and home loan agreements continue the new homes section of the UK property market will remain subdued for some time to come.