News
Barratt Developments reports forward orders at record levels
Barratt Developments has reported its forward order book has exceeded £2.5bn bringing it to its highest level ever achieved by the group.
In its latest trading update for the period from 1 January to 10 May, Barratt reported its total forward sales, including joint ventures, were up 17.9% to £2.59bn compared to £2.2bn for the same period in 2014.
Net private reservations per week have risen to 289 from 280 in 2014.
The uplift in new home activity is being seen across the sector.
Figures from the National House Building Council revealed 40,281 new homes were registered for construction in the first quarter of this year, an 18% rise on Q1 2014 and the highest number since 2007.
Barratt expects the Conservative government to provide a supportive environment for house building through a continuation of the Help to Buy equity loan scheme and further improvements to the planning system.
Welcome to the future: how collaboration is driving the shift to digital home buying
Sponsored by Halifax Intermediaries
In its statement, Barratt said it was looking forward to working with the government to deliver its housing objective but it would need to be supported by further releases of public sector land and continued pressure on local authorities to deliver local plans.
Group chief executive Mark Clare said the strong consumer demand for new build properties was supported by an increase in the availability of mortgage products available for its customers.
[article_related_posts]