Healthy market outside London for Barratt

Nov. 16, 2016
<p>In a trading update issued on November 16 Barratt says that overall market conditions remain healthy, with the group trading well since the start of the new financial year.</p> <p>However the firm says the market in London at higher selling prices remains more challenging. “To mitigate these risks we have taken pricing action on a number of our sites in London,” Barratt said.</p> <p>The update covers the period from July 1 to November 13 and is largely positive. The firm reports a sales rate of 0.74 (2015: 0.71) net private reservations per active outlet per average week with total forward sales (including joint ventures) up by 4.3% to £2,654.3 million (2015: £2,544.6 million), with wholly owned forward sales up strongly by 19.5% to £2,466.1 million (2015: £2,062.9 million).</p> <p>David Thomas, Barratt chief executive said: “This has been another good trading period for the group. Consumer demand is strong supported by good mortgage availability.</p> <p>“We are mindful of the potential for economic uncertainty created by the outcome of the EU referendum. However, market fundamentals are robust, and we remain a housebuilder of choice.</p> <p>“Our focus remains on maintaining good operational and financial performance, and delivering attractive shareholder returns.”</p> <p>The firm launched …

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