Barratt Developments has issued a trading update that shows sales of its homes were up 17.9 per cent in the second half of 2012.
While a number of economic factors helped the housebuilder to improve its balance sheets, it said since the launch of Help to Buy in April it had seen a boost of 34.7 per cent in the number of people purchasing its properties .
This success has led the developer to report pre-tax profits of £192 million, which Barratt remarked was at the upper-end of most analysts’ predictions.
The group now wants to take the initiative in getting more Help to Buy sales and has approved 18,536 plots of land to buy – up on 12,085 in 2012.
Mark Clare, group chief executive at Barratt Developments, said: “As more house buyers return to the market, supported by improved mortgage availability and the Help to Buy scheme, we are in a strong position to continue to grow the value of the business.”
Mr Clarke added momentum is set to build and he is confident 2013 figures will be encouraging.
