Member Article

Barratt Homes to launch four new North East sites

Barratt Homes North East today announced that it will start work on four new developments in Newcastle, Durham and Burnopfield over the next six months.

Together the schemes will provide 228 homes with a total sales value of £65m and support around 450 jobs. The housebuilder says it predominantly employs local sub-contractors and tradesmen, so local businesses and people will benefit directly.

Fenton Hewitt, Sales Director at Barratt North East, said: “The Prime Minister has said again and again that one of the best ways to boost economic growth and get people working is through building more homes.

“The plans we are announcing today show exactly how that theory works in practice. The new sites will provide much-needed new homes for local people at a time when there is a chronic shortage of housing.

“In addition to the local construction jobs underpinned in building the new homes, the local people who move into the new housing will also spend their wages locally.

“This translates into a significant boost for local retailers at a time when concerns remain about the national financial picture. It’s exactly what the region needs.”

The housebuilder will start work on new developments under its Barratt and David Wilson Homes brands at:

La Sagesse, Jesmond: 48 homes Scholars’ Wynd, Lemington: 63 homes Mount Oswald, Durham: 61 homes Milburn Green, Burnopfield: 56 homes

These are in addition to eight new schemes for more than 800 homes started by the company across the region in the last six months.

Mr Hewitt added that the new homes and jobs weren’t the only piece of good news for North East people in 2014.

He said: “The really great news is the continuation of the Help to Buy scheme, which means home movers can get on the ladder with just a five per cent deposit, a 20 per cent equity loan, and a 75 per cent mortgage.

“This has generated huge interest among buyers here in the region and we sold more than 130 new homes already through the initiative.”

This was posted in Bdaily's Members' News section by Barratt Homes North East .