Housebuilders continue to report strong trading performances

Oct. 1, 2012
Major housebuilders have continued to report positive trading news to the City.<br> <br> Barratt Developments' profits have soared 159% for the year ending June 2012, with housing completions up 14.1%. The housebuilder said that the rise in completions reflected the higher reservation rate achieved during the year – 12,637 against 11,078 over the same period last year.<br> <br> Galliford Try's housebuilding completions rose 40% over the same period, with its revenue rising 64%. Completions totalled 3,039 against 2011's 2,170, which exceeded the firm's target of delivering around 3,000 units as part of its three-year expansion plan.<br> <br> Redrow's average selling price for its private homes rose 17% to £204,100 over the 12 months to June 2012. Its pre-tax profit rose 70% to £43 million.

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