Property News · October 18, 2023

Barratt warns of ‘uncertain’ year as buyers struggle with mortgages


UK housebuilder’s sales also dented by absence of government’s help-to-buy schemeBusiness live – latest updatesBritain’s biggest housebuilder has warned of a tough market, with would-be buyers still struggling to secure an affordable mortgage.With people taking longer to reserve a new home, Barratt Developments’ forward sales fell to 9,221 in the three months to 8 October from 13,314 a year earlier. Forward sales are agreements between a builder and a buyer to complete the sale at a specified date. At £2.4bn, they are worth £800m less than last year. Continue reading…

Source : theguardian.com
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