Barratt developments tendered further evidence of a revival in the housing market, revealing strong growth in the number of reservations at its sites.
The housebuilder, the UK‘s second- largest by market value, said home buyers were returning, with net private reservation rates per site running 34 per cent ahead of the levels seen last year. The forward order book also showed signs of recovery, and stood at £846.6m at the beginning of November, compared with £817.7m in 2008.
Mark Clare, the company’s chief executive, remained cautious, however, saying: “While trading conditions in the housing market have improved, activity levels will remain constrained until the availability of mortgage finance increases, particularly at higher loan-to-value levels.”
Source – The Indpendent
Justin Moy