“Britain’s largest housebuilder Barratt Developments has shrugged off fears of a slowdown in the property market to post record profits.
The FTSE 100 giant made £836m in pre-tax profits in the year to June, a 7.9pc improvement on the previous year, after revenues grew 4.8pc to £4.9bn.
Barratt sold 17,579 houses in the year, up 1.1pc, at an average selling price of £289,000, a rise of 5pc.
While there are signs of a slowdown in the wider housing market, John Allan, chairman, said Barratt’s new builds were continuing to attract strong levels of interest from buyers.
He said: “Market conditions remain good with a wide availability of attractive mortgage finance, which, alongside Help to Buy, continues…”