StockMarketWire.com - Residential property developer Barratt Developments said it continued to expect to grow homebuilding volumes toward the lower end of its medium-term target range this year, as completions rose and the pace of sales remained steady.

For the 15 weeks to 13 October, the company sold 3,252 homes, including from joint ventures, up 14.0% on-year.

Its sales rate was 0.72 net private reservations per active outlet per average week, unchanged on-year.

Total forward sales as at 13 October 2019 were 'strong,' comprising 12,963 homes, up from 12,903, at a value of £3,070.2m, down from £3,146.5m.

Site openings were progressing as expected, with 26 new developments launched in the period, up from 53.

Looking ahead, the company said it expected to grow volume towards the lower end of its medium term target range of 3% to 5%.

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