Barratt and Bovis expect housing revival

Published:  13 May, 2011

UK: Barratt Developments and Bovis Homes report a more stable housing market with selling prices increasing by 4% and site visitor numbers up.

This year Bovis purchased 1008 new plots across six sites, all in the south of England and anticipates agreeing terms on 8000 plots in the financial year. It also expects to buy more land as the government sells off public sites.

Mark Clare, Barratt chief executive, says" "We are encouraged by the improvement in market conditions we've seen since the start of 2011, following a challenging autumn period.

Bovis warned that measures to boost home buying unveiled in the budget do not overcome the fundamental issue of mortgage finance availability for homebuyers holding modest deposits. Barratt warned that it expects property "activity to remain constrained in the near term".

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