Homebuyers returning

The UK housebuilder Barratt Developments has said homebuyers are returning to the market, after it revealed private reservations per site were running 34% ahead of last year. In an interim management statement, the group added that in the 19 weeks to 8 November, it had substantially reduced debt levels and was now in a strong position to buy land as opportunities presented themselves. Despite suggesting the stability seen in the property market over the first half of the year had continued, Mark Clare, chief executive officer of Barratt Developments, warned activity levels would remain constrained until the availability of mortgage finance increased, particularly at higher loan to value levels.
 
 
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