Barratt try to do what the Government can't!

mystic_trev

Housebuilder Barratt Developments has said it is prepared to shield homebuyers from a fall in house prices in a desperate bid to inject some life into Britain's slumping property market.

then..............

The builder's average selling price for a home in the 12 months to June 30 fell 6pc to £183,100.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/09/10/bcnbarr210.xml

However according to the BBC

The firm said its average selling price had risen 6% because of high-value sales in upscale London locations.

http://news.bbc.co.uk/1/hi/business/7607573.stm

:rotfl:

justpurchased

mystic_trev wrote: »

then..............



http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/09/10/bcnbarr210.xml

However according to the BBC



http://news.bbc.co.uk/1/hi/business/7607573.stm

:rotfl:

Does this just not mean it is only the larger/more expensive houses selling. Thus pushing up the average price?

mystic_trev

justpurchased wrote: »

Does this just not mean it is only the larger/more expensive houses selling. Thus pushing up the average price?

Dunno JP,you could be right but why are both the figures 6% ?Perhaps I'm being a bit thick? No doubt someone will be along soon to explain it!

justpurchased

mystic_trev wrote: »

Dunno JP,you could be right but why are both the figures 6% ?Perhaps I'm being a bit thick? No doubt someone will be along soon to explain it!

http://www.barratt-investor-relations.co.uk/media/releases/Content.aspx?id=1542

It is an increase (5% decrease based on mix). I think for the reason above.

carolt

Very strange - they can't both be right....?

justpurchased

carolt wrote: »

Very strange - they can't both be right....?

Well yes,
The average is higher because of the higher sale price. (pushes up the average price)
(If you sell two detached and 1 semi the average price would be higher than three semis.)
But the like for like sale price (pesumably based on last year) are 5% lower than the previous figures.
(Say 3 bed semi was £100K last year, now £95K)

fatpig_2

More lies, damned lies and statistics from housebuilders/banks. You couldn't believe a word they say.

justpurchased

fatpig wrote: »

More lies, damned lies and statistics from housebuilders/banks. You couldn't believe a word they say.

Well not realy as they are saying prices are lower, just that the areas that are still selling are the higher value items. Basicly newbuild flats and other FTB homes are not selling that well distorting the average sales price

Mozette

Blimey! When I saw the title of the thread I thought the rest was going to be "run the country" :rolleyes:

justpurchased

Very good.:D

ad9898_3

Looks like they are paying stamp duty on houses under 500k, right then thats made my mind up, plasterboard palace here I come, er NOT

When are they going to get it???, drop the price out of the straosphere and the buyers will return... it isn't rocket science.