Barratt Developments’ Sales Rise By 2.4%
There has been an increase in the number of people buying homes from Barratt Developments over the last year, according to the latest trading statement.
Released today (May 9th), the report revealed the total forward sales for the developer had risen by 2.4 per cent between May 6th 2018 and May 5th 2019.
This is a growth from £3,286.7 million last year to £3,365.1 million earlier this month, leading chief executive David Thomas to say it has been “another strong period” for the developer.
He stated: “Trading since the beginning of the year has been strong, the outlook for the year is modestly ahead of our previous expectations and we are encouraged by our continued progress in driving operating efficiencies through the business.”
Barratt Developments’ net private reservation rate for the period was 0.79 per active outlet per average week, which is a slight drop from 0.80 last year.
However, the sale figures show 14,181 units had been sold in the last year, in comparison with the 13,655 that were sold the year before.
The developer also revealed its intentions to switch to modern methods of construction, committing itself to use it in the building of 20 per cent of its homes by 2020.
This will help boost profits without affecting the quality or design of its houses.
Earlier this year, Barratt revealed it received a five-star rating in the latest Home Builders Federation annual customer satisfaction survey, making it the tenth year in a row it has been awarded the accolade.
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