18
Jan
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".