Barratt completions rising

The housebuilder completed 7,626 units in the six months to the end of December, up 9.4% on the same period in 2014, and the group aims to complete 16,750 homes in 2016.

In a trading statement to the stockmarket this morning, Barratt, which has offices in Stretford, Manchester and, for its David Wilson Homes subsidiary, Birchwood, Warrington, said the completions included 5,993 for full private sale, up 7.7% on last time, and 1,114 affordable homes, down 3%.

The average selling price was £254,000, up 10.8%, and the company had an average of 386 active sites through the period. The reservation rate was 246 units a week, pushing private forward sales up 20% to £1,081m.

During the half-year Barratt approved £559m of land purchases, on 54 sites, capable of delivering 10,967 units.

However, the number of starts on new developments was down, the company launching 63 new sites in the first half of its financial year compared to 96 new sites a year earlier.

Barratt said it plans to return £667m to shareholders in the two years to November 2017. Shares were up 3p at 613p by 10.15am.

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