Barratt Developments going great guns despite economic uncertainty

Britain’s largest house builder Barratt Developments says it has enjoyed a strong start to the year despite the troubling impact Brexit uncertainty is having on the wider home building sector.

The Coalville-based company’s financial year doesn’t end until 30 June 2020, but it has already opened 26 new sites since the beginning of the period, having opened a total of 53 during the previous year.

Including joint ventures, Barratt has delivered 3,252 home completions so far this year, an increase of 14 per cent on last year’s figure.

Its total forward sales as of 13 October 2019 are similarly strong, comprising 12,963 homes at a value of £3,070.2 million.

David Thomas, chief executive at Barratt Developments, said: “We have started our new financial year well, with a good sales rate and a healthy forward order book. As the only major house builder to be awarded a 5 Star rating for customer satisfaction for ten years in a row, we continue to lead the industry in quality and customer service.

“Whilst there is economic and political uncertainty, we continue to be disciplined and have a strong balance sheet and cash position which we believe provide us with the resilience and flexibility to react to potential changes in the operating environment in FY20 and beyond. We maintain our focus on the delivery of operational improvements across our business, and our commitment to deliver the highest quality homes across the country.”