Buyers return to UK property market
Buyers are beginning to return to the UK property market, according to the latest figures from Barratt Homes.
The company reported in its interim financial report that private reservations rose by 34% in the two months leading up to November 8th.
Barratt Homes are the country's second largest house builder in the UK based on market value. They currently operate 362 sites across the country.
This is one in a number of signs which suggest that the UK property market is improving. Mortgage approvals in September 2009 rose by 43% from the previous year and many of these were for first-time buyers looking to take advantage of the stamp duty holiday.
By changing its product mix to include more houses, the company predicts that the average selling prices will rise by 8-10 %
It was also announced that it still expects to have 12,000 new units completed by June next year.
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