Buy To Let
Housing market recovery ‘spreading’ beyond South East
Written By:
Your Money
Posted:
Updated:
11/09/2013
Housebuilder Barratt Developments has said the recovery in the housing market is starting to spread.
The group reported pre-tax profits for the year to the end of June of £104.8m, up from £100m the previous year.
“We are seeing the housing market recovery starting to spread beyond London and the South East,” chief executive Mark Clare said.
Its average selling price rose to £194,800 from £180,500 the previous year.
Barratt expects to complete about 45,000 new homes over the next three years.
It also reported it had cut its debt to £25.9m from £167.7m at the end of June 2012.