House price rise boosts Barratt

Published:  13 May, 2010

GUILDFORD: Housebuilder Barratt Developments said it would deliver a profit in the second half of the year. The company, like other housebuilders, reported improved sales rates since February.

Its average selling price is expected to rise by 15% by 30 June, due to a shift in the type of houses being sold.

The company said net private reservations in the 19 weeks to 9 May rose 4% year-on-year, while forward sales increased by 32% year-on year, standing at £1.07bn.

Mark Clare, Barrett's chief executive, said: "The increase in our selling prices coupled with effective cost control is leading to good margin growth and we expect to deliver a profit for the second half."

House price growth accelerated in April according to a survey conducted by the Royal Institution of Chartered Surveyors, echoing figures from the Nationwide Building Society that showed prices recovered last month after a disappointing start to the year.

Sign Up

For the Builders' Merchants News enewsletter.

In the spotlight

We have vacancies all over the UK for those who work within the Building Supplies sector.

Events Diary