The firm’s turnover also dropped by 7.3% falling from £1.35 billion to £1.26bn, while the number of home completions also fell from 3,027 in 2022 to 2,917 in 2023.

Its full year results for the twelve months to 31 December 2023 indicated that the firm’s sales per site per week rose by 1.6%, from 0.62 to 0.63, and its revenue per site per week dropped just slightly from £316,000 to £315,000.

The firm also highlighted a marginal increase in private average sales price (ASP) to £495,000 (2022: £492,000) while also revealing that it had secured 640 forward private reservations equating to £308m Gross Development Value (GDV), (2022: 751 units, £396m GDV).

Cala Group has 19 new short-term developments contracted with estimated Gross Development Value (GDV) of £1.4bn capable of delivering over 2,700 new homes. In addition, the firm has five new strategic sites contracted with a GDV of over £700m and in excess of 1,600 units.

The company announced that it had delivered a 28.7% reduction in operational greenhouse gas emissions and continued to be recommended by customers as 5 Star homebuilder (HBF).

Kevin Whitaker, CEO at Cala Group, said: “Cala delivered a robust financial performance in 2023. Despite market challenges, we maintained a sales rate of 0.63 in line with 2022 (0.62), securing revenue per site per week of £315,000. This consistent delivery has given us confidence to execute our strategy to invest in land for future years.

“In 2023, Cala contracted 24 new sites, capable of delivering over 4,300 new homes. These sites have a gross development value (GDV) of £2.1bn with the average selling price of around £500,000. We remain committed to this strategy and our land and planning teams across the UK are actively seeking further opportunities to invest in sustainable developments in desirable locations.

“As of 10th March 2024, Cala had delivered 0.71 sales per site per week (average for financial year 2023: 0.63), and we are seeing encouraging levels of enquiries to our developments and website. Cala’s quality of design and construction, with outstanding customer service, as well as the enhanced energy-efficiency of new homes, continue to attract a new range of buyers.

“Whilst still early to predict, this positive start to the year alongside improving economic fundamentals are reasons for optimism that the market could return to more normal conditions during 2024. The stabilising of interest rates, reductions in inflation and more competitive mortgage rates will improve affordability.”