Barratt Developments in Hampshire is pleased to be maintaining positive sales rates amid a difficult time for the economy, and remains committed to leading the industry in quality, customer service and sustainability, according to its recent trading update.
The housebuilder, which is bringing new homes to the county through its Barratt Homes and David Wilson Homes developments, has released its update from the period 1st January to 1st April 2023, and the results are reassuring.
In the period, Barratt’s net private reservation rate has been 0.65 per active outlet per average week, and although this is down on the same period last year, it has come after exceptionally challenging trading conditions experienced at the end of 2022, and a difficult economic back drop for first-time buyers. Resilient demand amongst existing homeowners however, along with the energy efficiency of the developer’s quality properties, and the backdrop of significant rental cost growth, has all helped support demand.
The housebuilder has completed on 3,194 homes as of 1st April 2023 and has a total forward sale estimate (including Joint Ventures) which totals 11,820 homes at a value of £2,956.5m. James Dunne, Barratt and David Wilson Homes Managing Director, Southampton Division, said this is a huge achievement.
He said: “While the economic backdrop remains difficult, we are pleased that more positive sales rates have been maintained, as a result, we expect to deliver a full year adjusted profit before tax in line with current market expectations.
“We remain committed to building high-quality, sustainable homes that the country needs, as well as creating jobs and supporting the economy. We are also proud to be the only major housebuilder awarded 5 stars by our customers for the 14th successive year in the Home Builders Federation awards.”
Reflecting the ongoing demand for its new-build properties, Barratt expects its total home completions in FY23 to be between 16,500 and 17,000 homes, including around 750 JV home completions.
The developer also remains committed to maintaining its position as the leading national sustainable housebuilder. All its sites now being submitted for planning are identifying a minimum bio-diversity net gain of 10% and, following its completion and launch in February 2023, its eHome2 concept home, in partnership with Saint Gobain and the University of Salford, is now undergoing comprehensive climate testing.
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