Barratt unveils post-lockdown surge as prices remain firm

The hiatus in construction activity post-lockdown caused Barratt Developments’ (BDEV) completions to inevitably plummet, declining by more than a quarter over the 12-month period. However, like peers, the housebuilder has benefited from pent-up demand and the temporary rise in the stamp duty threshold, with average weekly net private reservations per active outlet in July and August surging ahead of the comparable period last year. On the same day the Nationwide House Price Index revealed that house prices had risen 3.7 per cent to a record high last month, Barratt also said that sales prices had remained firm in the wake of the pandemic.