Barratt’s booming year

BARRATT Developments has ‘modestly’ hiked its outlook for the full year after a strong start to 2021 – thanks to Britain’s booming property market.

The housebuilder said it is set to complete more homes this year than first predicted, at between 16,000 and 16,250, with a further 650 joint venture completions. The housing market has boomed recently due largely to the stamp duty holiday, which was extended to the end of June, and changing demand due to the pandemic. Barratt will repay around £3.5m of business rates relief on its show homes and sales offices due to its strong trading.