When financial analysts start talking about a national housebuilders published accounts as being “outrageously impressive figures” as Alistair McCraig of IG has just said about Barratt Developments, then you know the housebuilding market must be pretty good at the moment.
Barratt’s Chief Executive said earlier this week that it sold 6,971 new homes in the 6 months to the end of December, up 12.5% on the last year’s performance. More impressive perhaps was that the average selling price was up 8.5% to £229,200.
The reasons? Well Barratts CEO says ‘the mood is positive’ and with some of the cheapest mortgage rates ever seen its now a case of “how fast we can build now rather than how fast we can sell.
Barratts news came after strong trading updates from its rivals Bovis, Redrow and Persimmon.
As we sell sites into the residential land market to the national housebuilders, there are challenges in some areas where the developers have got well stocked land banks already. Demand though for sites is still generally strong.
Working with our planning teams we are busy obtaining the key planning consents needed on strategic sites and turning these sites into successful developments.
For details of current site sales or advice on strategic development land contact one of the agency or planning team at Harris Lamb.