It's hilarious when you read that Bovis Homes report 71% rise in trading yet in the same breath talk about "sales reservations". A quick look at their own website reveals what "sales reservation" really is:
This is where you indicate you are interested in purchasing a property and confirm your intent with the payment of a reservation fee, typically £500. This forms part of the purchase price as long as the sale proceeds.
This is where you see how indubitably desperate homebuilders are! What on earth is going on here? I sincerely hope they don't believe this... Oh wait, it's about psychology stupid! We should all believe we're doing just fine and all these problems will just go away. It's all in your head Gustav, it's all in your head!
