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Barratt Says Housing Market Recovery Spreading

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The housebuilder Barratt Developments has said the recovery in the housing market is spreading.

"We are seeing the housing market recovery starting to spread beyond London and the South East," chief executive Mark Clare said.

The group reported pre-tax profits for the year to the end of June of £104.8m, up from £100m the previous year.

Its average selling price rose to £194,800 up 7.9% from the previous year's figure of £180,500.

Barratt expects to complete about 45,000 new homes over the next three years.

How exciting.

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