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News - 15 January 2014

Barratt sales lifted by Help to Buy scheme

Barratt Developments, the house builders, completed 6,195 new homes in the six months to the end of last year, up 19% on a year earlier. Of these, they claim, 29% of the houses were bought using the government's Help to Buy scheme.

Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“Their average selling price for the period rose to £211,000, up 13.7% from the previous year's figure of £185,500, and their forward sales are up 70.6% on the same period a year earlier to £1,265.8m.”

Both Barratt and its rival housebuilders have benefited from the government's move last year to help struggling house buyers by providing loans and guaranteeing mortgages with its Help to Buy scheme.

The first phase of the scheme was launched last April, but only provided help to first-time buyers buying new-build homes.

The extended scheme, launched last November, applies to all buyers and all types of homes, up to a value of £600,000.
If you need any help and advice for your business on the implications of central and local Government Funding initiatives and the construction industry, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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