for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Homebuilding

UPDATE 1-Housebuilder Barratt sees home buyers come back

* Net private reservations per site up 34 pct

* Says in strong position to buy land following fundraising

(Adds details)

LONDON, Nov 17 (Reuters) - British housebuilder Barratt Developments BDEV.L said home buyers were coming back to the market, with private reservations per site up over a third on last year.

The second largest housebuilder by market value saw net private reservations per site rise by 34 percent, it said on Tuesday in a trading statement covering the 19 weeks to Nov 8.

It added that it will have cut its debt to an expected 700 million pounds ($1.18 billion) by Dec. 31 this year, compared with 1.4 billion in 2008, putting it in a strong position to buy land as opportunities emerge.

Barratt recently raised over 720 million pounds via a rights issue and placing, announced in September. [ID:nLN464412]

Rival Persimmon PSN.L said on Monday that trading had improved, lifted by higher sales and prices. [ID:nLD743]

This backs recent data which suggest house prices, that are estimated to have plummeted over 20 percent since August 2007, have stabilised.

British house prices in October recorded their lowest annual fall since March 2008 and a 1.2 percent rise from September according to mortgage lender Halifax. [ID:nL3376075]

(Reporting by Ben Deighton and Lorraine Turner; Editing by Mark Potter)

$1=.5941 Pound

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up