However, the company said long-term government housebuilding plans are positive for the industry.
 
Gleeson said it has seen a slower market following uncertainties from mortgage lenders. In a statement the company said: “The recent turbulence in the financial markets has restricted the supply of morggage credit to prospective house buyers. This, combined with the current high level of interest rates in the UK, has resulted in a lower number of visitors to our housing sites … and a slowing down in the number of legal completions.”
 
However, Gleeson said it looks forward to brighter long-term prospects.
 
The company said: “Recent Government announcements with regard to the house-building sector and in particular the affordable element of this sector, allied to the long-term maintenance requirements of social housing, are very encouraging and confirm the Board's belief that its transformation programme, which was designed to focus on these sectors, will bring long-term rewards to shareholders.”