Barratt boosted by first time buyers

15-Jul-2005

Aspiring homeowners look likely to become the focal point of housebuilders over the coming months, as one firm reported strong returns from its affordable housing division.

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Barratt Developments, which is the third largest homebuilder in the UK by market value, has forecast that its full-year profits will rise, thanks mainly to the growth of its affordable housing business.

The results, which show that the development of lower cost homes have been far more profitable for the company during the slowdown in the market, are likely to act as a catalyst for other builders to concentrate on the affordable housing sector.

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While the government has been running a competition for private developers to create more affordable housing, nothing works in the favour of first time buyers better than evidence that building affordable homes boosts profit margins.

Therefore, there is good reason for aspiring first time buyers to be optimistic that affordable housing will become far more prevalent across the country, thereby making it much easier for them to find a deposit and mortgage.

Click here for advice on first time buyer mortgages or to find out how much you can borrow and how much it will cost you, from the UK’s leading High Street Brokers, Bradford and Bingley

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