Barratt: “We’re struggling to build homes fast enough”

After selling 6,971 homes in the six months to December – a 12.5% increase on the previous year – CEO of Barratt Developments, Mark Clare, has said that the company is struggling to build homes fast enough to keep up with demand. He reported that the top end of the London property market has plateaued, with the “quite ridiculous” price growth slowing down, but that demand in Zone 2 is growing, with the fastest selling sites for the firm’s London division located in the south east of the capital. The company is planning to start construction on 13,500 new homes on 90 sites in the next six months, and said that completions had increased by 12% while forward sales were up 17% on the previous year.

Evening Standard, Page: 41   Daily Telegraph, Business, Page: 8, Daily Express, Page: 62  Financial Times, Page: 20  The Guardian, Page: 29   Daily Mirror, Page: 58