Barratt Hit By Housing CrisisMonday 12th May 2008
One of the UK’s leading property developers Barrratt have announced that they have seen a significant downturn in their business since the beginning of this year.
The numbers of reservations is down a third in the first 11 weeks of this year compared with figures from last year and they have had a large number of cancellations.
The company believe that a lack of consumer confidence in the market has lead to the downturn and have seen a particular fall in the past 6 weeks as affects of the credit crunch where made public.
The firm are not the only developers to announce poor figures with their announcement following similar tales from rival property builders Redrow and Galliford Try.
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