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Sat September 25 2021

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Barratt surges on back of Help to Buy

13 Nov 13 Sales at house-builder Barratt Developments are up nearly 50% on last year.

Over the past 19 weeks since 1 July Barratt has booked private forward sales of £1,127.4m, compared to £768.5m for the same period last year.

It has seen an upturn across all six of its operating regions.

More than 2,800 customers have used the government’s Help to Buy shared equity scheme.

Although the upturn in house-building across the industry had led to increased pressure on the supply of materials, Barratt said that its “strong supplier relationships combined with our centralised procurement approach” meant that it had so far suffered no adverse effects on either build programmes or costs.

Group chief executive Mark Clare said: "The market remains strong, driven by better lending conditions and improving customer confidence; we are increasing production and investment for the future.  Our disciplined approach to land buying over the last four years is bringing forward high return sites into production and we continue to secure excellent land opportunities. With better market conditions and the benefits of high return land, we are confident that we will deliver substantial improvements in our performance for the full year."

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