18 Jan

Barratt new-build price increases "encouraging"

Barratt new-build price increases "encouraging"

The increase in new-build property sale prices reported by one developer last week has been called "encouraging" by the manager director of one new homes website.

David Bexon suggested the news that Barratt Developments had observed a four per cent price rise in this segment during the second half of 2009 could boost confidence in the property market, although he noted that the company's announcement did have a "cautious" tone.

According to Barratt, the average selling price of a new property reached £167,000 at the end of the six-month period and it expects the total will rise by between eight and ten per cent for the full financial year.

Commenting on the prospect of further increases over 2010, Mr Bexon said that while there are a number of issues affecting the sector at the moment, "the house building industry has generally responded well to the difficult market circumstances, with many firms emerging stronger from the downturn".ADNFCR-1222-ID-19563653-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.