Housebuilder Barratt Developments has agreed a deal with John Whittaker that will allow the company to build homes on the tycoon's land in the north of England. The first project with Peel is on sites in Wigan and Liverpool Photo: Bloomberg News The framework deal covers 80 acres of land on six sites with the potential for 1,000 new homes. Barratt and Mr Whittaker's Peel Land and Property said the homes could generate £200m of revenues over the next five years. Barratt is one of the UK's largest housebuilders and is seeking joint venture deals as a … [Read more...]
Market Watch: Builders break through property market gloom
February 27, 2011 By Leave a Comment
UPDATES from key players in the housebuilding and insurance sectors will form part of another significant week for corporate results. Two of the UK's biggest housebuilders, Taylor Wimpey and Persimmon, are due to shrug off the gloom surrounding the property market when they report significant increases in profits. Both housebuilders have provided bullish trading updates in recent months and are expected to report strong performances in the second half of 2010 despite the UK government's comprehensive spending review in the autumn, which deterred buyers, and the snow in December, which … [Read more...]
A helping hand for next-time buyers
February 27, 2011 By Leave a Comment
Banks and building societies are belatedly recognising the plight of 'mortgage prisoners' - homeowners who are trapped because falling house prices have wiped out their deposit. They are experimenting with ways to help them escape the trap and kickstart the sluggish housing market. New mortgage lending was a record low in 2010, says the Bank of England. Average house prices are down 1.1% over the past year, according to Nationwide Building Society, and 13% lower than the peak in autumn 2007. The fall has hit the 'nexttime buyers', most of whom bought their first home between 2006 … [Read more...]
Barratt Developments moves away from first-time buyer housing
February 26, 2011 By Leave a Comment
Britain's biggest housebuilder has warned first-time buyers that they are going to find it even harder to get onto the property ladder. Mark Clare, chief executive of Barratt Developments, said the company was "moving away from [building homes for] first-time buyers" because young people are finding it too difficult to get mortgages. Mr Clare said less than 30pc of Barratt's new homes outside of London are designed for first-time buyers, compared with 72pc two years ago. "First-time buyers will have to look at second-hand rather than new, it is going to … [Read more...]
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