Barratt: selling season "weaker than anticipated"
Barratt Developments, which has its registered office in Coalville, says the autumn selling season has been "weaker than anticipated". But the company, which issued an interim management statement covering 1 July to 14 November 2010 today, said underlying selling prices remained stable during the period.
It said the total average selling price (ASP) on completions increased by 9 per cent to £180,000, with private ASP increasing by 12 per cent to £194,000. Total completion revenues increased by 9 per cent.
Total forward sales were said to be in line with the previous year at £870.9m. The company reported success in signing large scale partnership agreements.
Mark Clare, chief executive of Barratt Developments, said: "Our strategy continues to be value and quality focused in a market where customers are taking longer to commit to house purchases.
"Whilst the autumn selling season has been weaker than anticipated, our encouraging performance on price is expected to drive margin growth for the year."
During the period, Barratt said it operated from an average of 349 active sites, down from 369 for the same period in the prior year.
During the first 20 weeks, Barratt said it opened 72 active sites and expects to open a further 120 sites by 30 June 2011.
