Help to Buy drives Barratt sales

Suzie Neuwirth

RESIDENTIAL property firm Barratt Developments today announced an 18 per cent increase in private reservations, following the announcement of the UK Government’s Help to Buy scheme in the 2013 budget.

The government’s scheme gives buyers with only a five per cent deposit help onto the housing ladder.

The FTSE 250-listed company said that the launch of its Help to Buy shared equity loan scheme on 1 April has increased levels of consumer interest and strengthened sales rates.

“Our improved performance is being underpinned by stronger market conditions and the operational changes we have made to every aspect of our business,” said chief executive Mark Clare.

“Help to Buy has seen a strong start and we are investing in land and bringing it through planning to meet increasing consumer demand.”