Barratt says first half completions up 9.4%

13th Jan 2016 07:07

(ShareCast News) - Completions for house builder Barratt rose 9.4% in the six months to the end of 2015 with the average selling price up 10.8% and total forward sales up 20% to £2bn.The company said overall, market conditions were "good and we remain confident in our outlook for the full year", including returning £667m to shareholders over two years to November 2017 and a 20% target return for capital employed."We continue to benefit from a good level of consumer demand across our regions, with mortgage availability and affordability remaining attractive as competition among lenders continues," Chief executive David Thomas said.He added that Barratt had approved the purchase of £559m of land and investing in training and recruitment programmes to counter the skills shortage that is plaguing the sector.Thomas welcomed the government's extension of the 'Help to Buy' programme through to 2021 as well as the increase in the government's equity loan to 40% in London, announced in the Autumn Spending Review."Both changes will be important for our customers, particularly in helping buyers into the market. We remain supportive of the government's Starter Homes Scheme, which is aimed at providing 200,000 homes for first time buyers by 2020," he said.