The developer, which has proposed a record dividend payment of over £200m, will continue to support the Government on its Starter Homes Scheme, which aims to provide 200,000 homes for first-time buyers over the next five years. It also acknowledges the importance of the Help to Buy (Equity Loan) to its first-time buyer customers, which will run until 2020.
In order to combat location and trade specific shortages on skilled labour supply, Barratt will be investing in trading programmes and has employed 327 new graduates, trainees and apprentices, with another 250 set to join in 2016.
While Barratt has scaled back new developments, launching 49 compared to last year’s 80, and operating from 380 sites, compared to last year’s 395, it expects to see controlled growth in site numbers next year, and will continue its investment in the land market, aiming to approve between 16,000-18,000 plots in 2016.
Barratt has had a good year, announcing in June a profit before tax increase by 44.8% to £565.5m during the year to June compared to £390.6m last year. It also saw the average home sale price go up 8.7% to £262,500 in 2015, an increase of £21,000 compared to 2014.
