Barratt says housing market ‘remains strong’

Housebuilder Barratt Developments today said its sales have continued to rise since the start of its new financial year, helped by UK government schemes designed to prop up the housing market.

The group, which holds its annual meeting today, said the value of its order book reached £1.1 billion in the 19 weeks to 10 November, up almost 47 per cent on a year ago, covering 4,514 plots.

Barratt chief executive Mark Clare said more than 2,800 homes have been reserved using the Help to Buy shared equity scheme since it launched in April.

He added: “The market remains strong, driven by better lending conditions and improving customer confidence.

“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.”