- Housebuilder Barratt Developments said Wednesday it had made 'strong' start to the new fiscal year as housing demand remained robust supported by attractive mortgages and positive government policy.

For period from 1 July to 14 October, net private reservations per active outlet averaged 0.72 per week, down from 0.74.

The company launched 53 new developments, including joint venture, for the period, down from 62 a year earlier, and was operating from an average of 365 active outlets, down from 371.

The housebuilder's forward sales were at £3.15bn for the period, up by 12.4% as compared to £2.80bn a year earlier.

For fiscal 2019, the company said it was 'confident' of delivering 'good' financial and operating performance. It was targeting 3%-to-5% volume growth a year.

'The group has started the new financial year in a strong position, with a good sales rate, healthy forward order book and customer demand supported by an attractive lending environment,' said David Thomas, Chief Executive.

'We are focused on delivering our medium term targets set out at our Full Year results, whilst maintaining our commitment to leading the industry in the design and quality of our homes and in customer service, which we believe is fundamental to our ongoing success.' Story provided by