Housebuilder MJ Gleeson has reiterated its full-year guidance in an opening half trading update despite reporting a “subdued” market for new homes.

The company said a lack of confidence among buyers in the current economic environment had been compounded by recent commentary during the run-up to the Autumn Budget.

However, with Budget concerns since fading and following the interest rate cut in December, MJ Gleeson said it was expecting an improvement in open market sales through the spring selling season and that it remains confident in its FY2026 forecast.

The housebuilder has previously forecast its annual group pre-tax profit to reach £24.3m, driven by 1,958 Gleeson Homes completions.

In its Gleeson Homes business, the company said it had delivered a “robust” performance in the six-month period to 31 December and will report the sale of 848 homes at the halfway mark, a figure 6% more than at the same stage last year (801).

“We are pleased to have delivered a solid performance in a subdued market,” commented CEO of MJ Gleeson, Graham Prothero. “We now expect to see an improvement in new home sales through the spring selling season on the back of last month’s rate cut, and as uncertainty in the run-up to the Budget continues to subside.

“Meanwhile, we are working hard on operational efficiency and effectiveness to ensure Gleeson Homes is in the best shape possible to capitalise on the significant growth opportunities we see ahead.

“Along with increasing momentum at Gleeson Land, we are confident that the group is in a strong position to deliver on its strategic objectives.”

MJ Gleeson will formally report its H1 results for the six months to 31 December on 11 February 2026.

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