Barratt’s Prices Rise by 9% After Selling More Houses
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Barratt Developments Plc, the U.K.’s biggest homebuilder by volume, said its average selling price rose by about 9 percent to 180,000 pounds ($286,000) since July as the company built a greater proportion of houses compared with apartments.
Total forward sales, or houses paid for but not yet built, were similar to last year at 870.9 million pounds, London-based Barratt said today in a statement. Net debt should increase to 400 million pounds to 450 million pounds by the end of June 2011, the company said. Barratt said in September that net debt was 366.9 million pounds.