Barratt has ended its financial year on a high: pre-tax profits are up by 31% to a record £289 million and the average selling price has risen to £152,800. “Our results are well up on last year and we are continuing to see a good level of demand on our sites right across the country,” said group chief executive, David Pretty. “We have seen a return to a more normal and stable market, which we welcome. The market is now much more sustainable going forward and us underpinned by low interest rates, good affordability and high employment levels. “In addition, planning constraints are ensuring that the supply of new homes cannot meet demand. Pretty is confident of continuing growth: “We entered our new financial year with record forward sales and the market remains sound. This, together with our full geographic spread and diverse products range, gives us great confidence for the year ahead.” The results relate to the 12 months to June 30 2003.