Barratt private completions up 6.9%

Jan. 14, 2015
<p>Private completions at Barratt Developments were up 6.9% to 5,563 in the six months to the end of 2014, in what the company described as a "strong performance" in a trading statement released today (January 14).</p> <p>Affordable housing numbers more than doubled in the period to 1,149 so overall completions were up 12.5%.</p> <p>Chief executive Mark Clare said that Barratt plans to open 90 new sites in the next six months, "which will give us the highest average number of developments for six years," he said. "Over their lifetime, these new sites will deliver another 13,500 much needed new homes."</p> <p>Average selling price on private homes was up 12.3% to around £253,000 due to changes in mix and house price inflation, but the firm expects the increase in the next six months to be lower than this, citing a change in mix in the next period - the past six months included a central London development, the Courthouse in Westminster, with an asp of £1.4 million.</p> <p>Private sector forward sales are up 3.3% although the sales rate is down to 0.58 per active site per week from 0.67 a year ago.</p> <p>The firm says it has made good progress to …

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