Barratt sees 70% increase in orders

Housebuilder Barratt says its order book has risen by 70 per cent since the beginning of 2009.

Orders rose to £778.2million equating to 5,253 plots up from £455.8million and 3,529 plots at 1 January this year. Of the current forward order book, £437.9million (56%) is contracted.

The company added it sold over 4,600 homes at acceptable prices since the beginning of 2009.

"We are on track to deliver volumes and margins in line with our expectations. Whilst there are early signs of stability, the housing market remains challenging, and is constrained by a lack of mortgage finance on appropriate terms," chief executive Mark Clare said.

He continued: "The Spring selling season has shown improved visitor traffic and reservation levels compared to the first half of our financial year."

"However volumes are currently at low levels, mortgage finance remains constrained and visibility is limited. We therefore remain cautious as to near term trading prospects," Clare added.