Barrett Development has reported strong concerns, saying it has faced pressure from supply chains across the UK but warned of rising costs.
The company, which has sites across. ScotlandIt is still on track to complete 17,000 to 17,250 homes in the current financial year, which will be completed next June, he said.
Barrett said he has seen “some economic uncertainty”, but his financial position is strong enough to react to the changes this year.
“We are continuing to work with our suppliers and subcontractors, and challenging the supply chain has not significantly hampered our construction program. the environmentChief Executive David Thomas said. The positive start to the new fiscal year has continued in recent weeks with strong private concerns.
Private reservations averaged 1,281 weeks, up from 288 last year and 262 a year earlier.
The company added that its building sites are continuing to operate across the country, and construction is in line with plans.
However, he said the cost of the building would increase by four to five per cent during the current financial year.
Reservations per site have dropped 2.3 percent in the last three months compared to the same period a year ago, but Barrett said Stage Last year, buyers can take advantage of stamp duty holidays and purchase assistance.
Barrett said the more relevant comparison is for the same period in 2019, and when compared to that time, reservations are now 18 percent higher.
Stamp duty holidays were completely abolished last month, while Help to Buy was abolished in December last year to exclude existing domestic buyers and to include regional price limits.
The effect is clear. In the last three months, 21% of shoppers were using Help to Buy, up from 45% two years ago and 51% last year.
The firm currently owns 480 homes for sale or marketing in Wallacefields, Robroston, 495 David Wilson Homes in County Wales, Aberdeen, Findersy, 453 in Elgin, and 241 at Kingslaw Village, Kirkcaldy.
Its 282 homes are in Torrance Park, Holly Town, 131 on Gateside Farm, Steps, Tower Street, 95 in Laith, Merchant’s Cove, Baltic Street, 212 in Laith, and 163 on the Roselyn Extension, not yet under construction.
Mr Thomas said reservations were particularly encouraging because of the significant annual reduction in support for buying reservations and the end of the stamp duty holiday.
He added: “We are on track to set our (2022 FY) and Medium Term Goals (FY 2021) results, while maintaining our commitment to advancing the industry in the quality and sustainability of our homes.” While maintaining customer service, which we believe is fundamental to our continued success. ”
At the end of the year, it had a headroom of 90 90 million compared to the bank facility of 28 280 million, while 94b loans are fully secured and there is no risk of any change in interest rate movements.
Shares of Barrett Development closed up 40.4p, or 6.3 percent, at 682.2p.