Housebuilder Galliford Try confident after Brexit vote

The boss of Galliford Try has brushed off the jitters rocking the residential property following Brexit, and said the housebuilder had grounds for confidence.

Shares in the builder jumped 58p, or 6.6%, to 940.33p after CEO Peter Truscott said that demand for new homes is strong.

Truscott said it was too early to predict the effects of the decision to leave the bloc. But he added: “The continuing availability of mortgage finance and Help to Buy give grounds for confidence.”

The firm saw the average selling price of its homes rise 2% to £335,000 in the year to June 30 and is on track to meet profit targets.

Meanwhile, chairman Greg Fitzgerald revealed he will leave the board in November, to be replaced by deputy chairman Peter Ventress.

Fitzgerald said: "I leave the business in an excellent financial position with a clear growth strategy."