This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-29138234
The article has changed 3 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Barratt Developments profits double | Barratt Developments profits double |
| (about 1 hour later) | |
| Housebuilder Barratt Developments has reported a 103% surge in annual profits on the back of "sustained strength" in in the property market. | Housebuilder Barratt Developments has reported a 103% surge in annual profits on the back of "sustained strength" in in the property market. |
| It said pre-tax profit for the year to June was £390.6m from £192m last year. | It said pre-tax profit for the year to June was £390.6m from £192m last year. |
| However, the company said the housing market was returning to "more normal seasonal trends" following "exceptionally high levels of activity" after the launch of Help to Buy. | However, the company said the housing market was returning to "more normal seasonal trends" following "exceptionally high levels of activity" after the launch of Help to Buy. |
| Average selling prices rose 12.9% in the year to £241,600, Barratt said. | Average selling prices rose 12.9% in the year to £241,600, Barratt said. |
| Total completions rose 8.6% to 14,838 compared with 13,663 a year earlier. | Total completions rose 8.6% to 14,838 compared with 13,663 a year earlier. |
| Mark Clare, chief executive of Barratt Developments, said the significant improvement in the company's performance was the result of its £3.8bn investment in land since the middle of 2009, as well as the recovery in the housing market. | Mark Clare, chief executive of Barratt Developments, said the significant improvement in the company's performance was the result of its £3.8bn investment in land since the middle of 2009, as well as the recovery in the housing market. |
| Barratt shares opened up 1.53% to 372.70p on the London Stock Exchange. | |
| Barratt is the latest housebuilder to report a significant increase in profits. | Barratt is the latest housebuilder to report a significant increase in profits. |
| In June, Berkeley Group reported a 40% jump in annual profits following what it called a surge in economic confidence in the last year. | |
| It said pre-tax profits for the year to 30 April were £380m, compared with £270.7m a year earlier. | It said pre-tax profits for the year to 30 April were £380m, compared with £270.7m a year earlier. |
| It added there was capacity to increase house building with the continued support of the Help to Buy scheme. | It added there was capacity to increase house building with the continued support of the Help to Buy scheme. |
| The government launched the Help to Buy scheme in April 2013, initially to help people buy newly-built properties. | |
| It was extend in October last year with a second scheme to provide an equity loan of up to 15% of a property's value - up to a limit of £90,000 - to help people onto, or up, the housing ladder. | |
| The most recent Halifax house price index for August suggested property values have started to ease. | |
| It showed property values across the UK in the three months to the end of August were 9.7% higher than the same period a year earlier. But this was down from 10.2% in July. | |
| The average house price is now £186,270, according to the lender, the highest level since April 2008. | |
| From July to August, prices rose by just 0.1%. Monthly figures are notoriously volatile, and do not provide an accurate guide to market trends. | |
| Nevertheless that compares with a monthly jump of 1.2% between June and July. |