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TODAY'S OTHER NEWS

Another house builder starts post-Brexit vote period with strong figures

Barratt Homes is the latest housebuilder to report strong figures - for the period up to the EU referendum - with reports of a good performance since the vote.

Barratt’s latest report says that in the year to June 30 it completed 17,319 plots - that’s 5.3 per cent up on the previous year, and its largest figure since 2008. 

Its revenue was 12.7 per cent up and pre-tax profit a whopping 20.7 per cent ahead of the 2015 figure. The private selling price increased by an average 10.4 per cent to £289,800. 

By the end of June the firm had amassed a 4.5 year supply of land though 24,387 new plots secured.

In terms of the post-referendum market Barratt reports a positive start with its measure of net private reservations per active outlet per average week from July 1 being 0.75 - at this stage last year, it was 0.71. Total forward sales including joint ventures to data this year are up by 4.1% per cent compared to the same stage of 2015. 

“Whilst we continue to monitor market conditions closely, current trading trends are positive, and I remain confident in the fundamentals of the housing sector and of our business” says David Thomas, the firm’s chief executive.

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