Member Article

Dorset housebuilder reports excellent recovery post pandemic

Barratt Developments has reported an incredible recovery post-pandemic, as the demand for its high-quality, energy efficient homes is still proving strong.

The leading housebuilder, which is bringing new homes to Dorset through its Barratt Homes and David Wilson Homes developments, has issued its trading update for the year ending 30 June 2021, and reports excellent progress.

Despite the continued uncertain times brought about by the Covid pandemic, the developer completed on 17,243 homes in 2021, 36.8% up on 2020 (12,604), and only 3.4% below pre-pandemic levels (17,856) in 2019. The housing group remains financially strong, finishing the year with net cash of £1,315m, ahead of previous expectations.

And with a forward sales position of £3,473.5m, which equates to 14,334 homes, a figure which has increased year on year, the high demand for the housebuilder’s quality, energy efficient homes on well-designed developments across the country is evident.

It is this quality that has once again been recognised through the NHBC Pride in the Job awards for build quality and site management, and in June 2021 its site managers were awarded 93 awards, more than any other housebuilder for the 17th consecutive year.

What’s more, with sustainability a high priority, the housebuilder has advanced its ranking in the industry specific Next Generation, Sustainability Benchmark Report, published in March 2021, and its sustainability actions were recognised in the FTSE100 with an 11th rank in the Responsibility 100 Index, developed by Tortoise, in April 2021.

Customer satisfaction also remains the housebuilder’s incentive, and it’s this commitment that saw Barratt awarded the maximum 5 star rating in the HBF customer satisfaction survey for the 12th year running – a unique achievement among the major national housebuilders.

Jon Green, Managing Director at Barratt and David Wilson Homes, Southampton Division, is delighted to see such an impressive recovery during challenging times, and says it is down to sheer hard work and determination.

He said: “It is thanks to the hard work, resilience and flexibility of our employees and sub-contractors that we have made such excellent progress this year, while we continue to maintain our high standards of quality and service.

“We have seen continued strong demand for our high quality, energy efficient homes on well-designed developments, and while these are still uncertain times, we enter the new financial year in a strong position.”

Barratt Development’s priority remains to rebuild its completion volumes back to FY19 levels in FY22 and thereafter delivering sustainable growth towards its medium target and current capacity of 20,000 homes over the next three to five years.

The housebuilder will continue to respond to changes in the market and the wider economy but with an excellent reported operating performance, strong forward order book and further strengthened financial position, it believes it has the resilience and flexibility to react to changes in the operating environment in FY22 and beyond.

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