Bovis hopes 2012 glow will boost market

Bovis Homes is banking on a decent haul of Olympic golds this summer to boost the feel-good factor around the property market.

The housebuilder, which raised pre-tax profits 74 per cent to a forecast-beating £32.1m in 2011, reckons London 2012 success will be good for morale after a sales blip in the summer. Its chief executive David Ritchie said: "There's two effects: the immediate effect is that it will generate slightly quieter markets, but depending on how many golds we win there is also a feel-good factor."