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Barratt sales leap as stamp duty holiday creates ‘strong demand’

  • 08/01/2021
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Barratt sales leap as stamp duty holiday creates ‘strong demand’
Barratt Developments has agreed sales on over 90 per cent of its housing stock in the first half of its financial year due to “strong demand” and buyer incentives following the reopening of the property market.


For the six months to 31 December, the developer’s forward sales rose 14.3 per cent to 13,588 homes sold. The value of the properties totalled £3.2bn, a 19.4 per cent increase on £2.7bn the year before. 

Barratt said although it increased its construction output to make up for the closure of the sector, this was absorbed by the increase in forward sales and reduced its product availability for the next quarter. 

During the period, the developer completed 9,077 homes, up 9.2 per cent from 8,314 in the first half of 2019. For the full financial year, Barratt expects to complete between 15,250 and 15,750 homes. 

The firm said it remained “disciplined and selective” in its land purchasing following its decision to resume acquiring land in August after a five-month suspension.

Since then, Barratt has approved the purchase of 5,635 plots on 35 sites and plans to expand this further. 

The group also increased its net profit from £308m in June to £1.1bn by December. 

David Thomas, chief executive of Barratt Developments, said: “Throughout the pandemic, our teams have worked hard to make our operations Covid-secure and our first priority continues to be keeping our employees, sub-contractors, suppliers and customers safe.

“I’d like to thank our people for their efforts in helping us to rebuild completion volumes, drive further operational improvements and deliver on our commitment to build the highest quality homes across the country.”  

“Despite the ongoing challenges presented by the pandemic, we are confident that our operating performance and strong financial position provide us with the resilience and flexibility to respond to the operating environment in FY21 and beyond,” he added. 

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