Member Article

Barratt builds on strong local demand in North East

FURTHER evidence of a recovering housing market emerged today when Barratt Homes revealed a substantial sales boost in the last six months and ambitious plans for the year ahead.

Nationally, the Barratt Group sold homes worth £1.3 billion in the final six months of 2013. The outcome provides further evidence that demand is picking up, boosted by the Help to Buy scheme.

Building on strong local demand, the company’s North East operating division, based in Newcastle, said it was aiming to open four new developments across the region in coming months.

The sites in Burnopfield, Durham, Jesmond and Lemington will create a total of 228 new homes, worth £65million, and support around 450 jobs.

Fenton Hewitt, Sales Director at Barratt North East, said: “We have made a lot of changes to the homes we are building and that really seems to be paying off. We are building the right homes in great locations.

“It is clear that plenty of customers think now is a great time to take their next step on the property ladder. The availability and publicity around five per cent deposit, low interest rate mortgages, through schemes such as the Government-backed Help to Buy scheme, have helped to create a surge in inquiries.

“Since the start of the New Year we have been extremely busy with buyer inquiries. That means we can increase production which is an economic boost for the local area as well.”

This was posted in Bdaily's Members' News section by Barratt Homes North East .