Shares in Barratt Developments rose 2%, or 21p, on Wednesday when it indicated that the spring housing market would be strong enough to drive its growth targets.

David Pretty, the housebuilder's chief executive, said its forward sales had reached 拢910m, which represented 90% of its full-year projection.

The update came as Barratt announced its results for the six months to 31 December. Underlying pre-tax profit rose 4% to 拢164m, turnover rose 2% to 拢1.2bn, and adjusted earnings per share increased 3% to 48.2p. The interim dividend rose 15% to 10.34p.

Barratt has launched a new product, iPad, aimed at first-time buyers. Prices will start at 拢80,000 in the North and 拢100,000 in the South. The first development, in Middlesbrough, is near completion.