Barratt Developments chief executive has stated that the off plan purchasing of new properties is again on the rise. This is most predominant in London and the South East.
Barratt Developments, Britains biggest New Home developer issued a formal “Trading update”. It noted that the company ghas been buying land again since mid 2009 and that the number of reservations of new homes was up as well as an average increase in achieved prices of 4%. (This can of course be partly due to a change in the mix of units that has come on line.)
It will be interesting if this activity is reflected in the announcements of Britains other major house builders over the coming weeks.
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15th January, 2010