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Barratt Developments "lifted" by help to buy
Graham_Devon
Posts: 58,560 Forumite
The rise in their average price is significant.House builder Barratt Developments says the government's Help to Buy scheme has driven up demand over the past six months.
The group completed 6,195 new homes in the six months to the end of last year, up 19% on a year earlier.
It said 29% of the houses were bought using the government's Help to Buy scheme.
Its average selling price for the period rose to £211,000, up 13.7% from the previous year's figure of £185,500.
Barratt said it was "well placed" for the year ahead.
"We have been able to increase materially the number of new homes being built and our profitability," said chief executive Mark Clare.
Forward sales for the firm are up 70.6% on the same period a year earlier to £1,265.8m.
http://www.bbc.co.uk/news/business-25724709
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Comments
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Graham_Devon wrote: »The rise in their average price is significant.
It would be if it were pure house price inflation.
However, it's mix of houses....Further changes in mix have also driven up our average selling price (‘ASP’) and for the period we expect total ASP on completions to increase by c. 13.7% to c. £211k (2012: £185.5k), with private ASP up by c. 11.4% to c. £225k (2012: £201.9k)0 -
Graham_Devon wrote: »
Yes - they're building bigger homes and less social housing.Private completions were up 22.7% to 5,202 (2012: 4,241) and affordable completions totalled 751 units (2012: 844 units). Joint venture completions in which the Group had an interest were 242 units (2012: 109 units).
Further changes in mix have also driven up our average selling price (‘ASP’) and for the period we expect total ASP on completions to increase by c. 13.7% to c. £211k (2012: £185.5k), with private ASP up by c. 11.4% to c. £225k (2012: £201.9k).
19% more completions than the year before - cracking!
About 1500 used help to buy.Loughton_Monkey wrote: »I think all the names should be published and etched on a commemorative wall. Something like:
"Never in the field of house price economics, has so much HPI been blamed on so few...."0 -
I genuinely thought this was an old thread that had been bumped for a second.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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