LONDON May 8 British housebuilder Barratt
Developments expects to secure reservations for at
least a quarter of its 2015 private completions by June, as the
recovering housing market drives sales.
Barratt, the country's largest housebuilder by volume,
reported on Thursday continued strong sales for the 18 weeks to
May 4 period, registering 0.77 net private reservations per
active site for the period.
"Our focus is now on full year 2015, and by June we expect
to have secured more than 25 percent of our full year 2015
private sales, with planning now in place for 98 percent of
total full year 2015 completions," Chief Executive Mark Clare
With its national portfolio of housing schemes, Barratt has
been one of the biggest beneficiaries of government moves to
free up mortgage lending, which have shored up buyer demand and
boosted sales across the British housebuilding sector.
It said 2,150 of its reservations over the period were made
by buyers using the Help to Buy scheme, which sees the
government providing equity loans to home buyers purchasing
newly built homes.
At May 4, the company's total forward sales - referring to
homes reserved with deposits - were up by 46.5 percent on the
prior year to 1.922 billion pounds ($3.26 billion), equating to
Shares in Barratt, which have risen 63 percent over the past
year, closed at 376.3 pence on Wednesday, valuing the company at
3.74 billion pounds.
($1 = 0.5894 British Pounds)
(Reporting by Brenda Goh)