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Gleesons trading 'in line with expectations'

Gleesons have said that they are trading in line with expectations despite a recent slowdown in the housing market.

In a statement to the financial markets, the house builder said trouble in the finance markets and high interest levels have hit the number of buyers.

The statement continued: “As long as interest rates do not continue to rise, unemployment remains materially unchanged and the ‘credit crunch’ proves to be short-lived, the general economic environment in which the group operates should remain positive.”

It said the government’s home-building plans should mean the market was strong in the long term.