Barratt enjoys sales 'momentum' in UK
Housebuilder Barratt Developments said today it was seeing “good momentum” on sales despite recent hikes in interest rates.
The firm, which bought rival Wilson Bowden for £2.2bn (€3.2bn) in February, said forward sales for the group were 15% ahead of last year at £1.4bn (€2bn).
Barratt expects to see “robust” pre-tax profits for the year to June 30, in line with market expectations.
While Barratt said it would be prudent to assume that the rate hikes would squeeze the market, the firm added that its strong sales and reservations position made it confident of competing.
The firm’s more upbeat comments contrast with a cautious update from Bovis Homes earlier this week. The company reported a “recent slowdown” in sales and visitor numbers to its sites, hitting housebuilders’ share prices.
