Barratt Developments has sounded a warning about a more difficult housing market in London.
In a trading statement Britain’s biggest house builder said conditions at the top end of the capital’s housing ladder have become more difficult and to mitigate the risks, prices have been reduced on a number of sites.
Investment research analyst at The Share Centre, Helal Miah, tells Proactive: ”Overall it’s a very good trading update when you consider the operations in the country as a whole”
”Especially in the northern and central regions of the UK consumer confidence really hasn’t been dented and the reservation rates are still very attractive and their forward sales have been good – up nearly 20%”
Asked whether they’re still feeling some ripple effects from Brexit Miah said: ”not across the country but certainly in the London market. It seems to be the more premium end of the London market – zones 1 & 2 – where they’re seeing some pricing pressures”.
Story by ProactiveInvestors