Housebuilder's second-half trading update shows sales rising and prices levelling

Barratt Developments has said it continued to meet targets on completions and margins in the second half of its financial year.

In a trading update released this morning, the housebuilder also reported a fall in completions for the whole year fell to 13,202, from 18,588 a year earlier.

Visitor levels in the second half of the year were up 11.9% on the first half, although down 4.3% on a year earlier. The cancellation rate for the second half fell to 19.9%, compared with 37.4% a year earlier.

Mark Clare
Clare: "We have seen higher sales rates, lower cancellations and prices levelling"

Falling UK house prices continued to affect the group during the year, with its prices down 14% averaged between the social and private sectors. The private sector average fell 19% from 拢205,400 to 拢166,000.

Group chief executive Mark Clare said: 鈥淲e have seen higher sales rates, lower cancellations and prices levelling.鈥�

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