It has been reported by the house building Company, Barratt Developments that the selling price of houses increased in the latter half of the previous year. Though, it did inform that poor activity during the last month of 2010 resulted in lesser results.
Average selling price for the six-months witnessed an increase of 6% to reach £176,000, as the Company profited from the sales it made in houses. Prior, to the 6% increase, the month of November had reported an increase of
The extreme weather conditions also hampered growth for last year, as buyers were not able to visit sites meant for sales because of which, sales could not be converted. At the same time the arctic conditions also caused many projects to be delayed.
The last two quarters of the year also happened to be good for underlying prices, especially after Halifax had announced that house valuations dropped by 1.3% in the month of December, which took the overall price spiral to
Barat happens to be one of the biggest house builders in the country. It has announced that the real estate market will continue to hamper as the availability of mortgages was further dragging down prices and demand.
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