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Friday01 August 2014

Barratt to build 2,000 homes a year in capital

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Firm wants to increase business in London

The country’s biggest house builder Barratt has said it wants to build 2,000 homes a year in London.

It completed 1,586 homes in the capital in the year to the end of June but chief executive Mark Clare said it wants to take advantage of a booming market. “Our Barratt London business is expanding fast. We are planning to deliver 2,000 new homes a year in London.”

Prices in London rose 5.3% last month compared to an average of 0.3% across the rest of the country, according to the Nationwide.

Barratt has also announced its first major partnership with developer British Land, the firm behind the Cheesegrater, to build 463 homes at Aldgate Place on the edge of the City.

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Readers' comments (9)

  • let's wait until the London bubble implodes and see if they still want to build these houses

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  • Lets hope that the majority of these new London homes are not bought out by foreign and buy to let investors as it defeats the point of building them in the first place.

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  • Hardly, Antonio. The point of building them is to make money. They're not building them just to help you and me out.

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  • The volume house building industry is a powerful lobby by some accounts,likely through organizations such as the house building federation and potentially through powerful members in the various houses of government, a market controlled by a small oligopoly is not a competitive market.

    Different organizations have been accused also of producing blacklists.

    House numbers have declined, could this be as investment,board interests and share holder returns are the only basis on which companies today operate.

    There are plenty of very good models of successful and profitable developments throughout the world where community, government and
    the private sector have collaborated. These success require concesions on risk, profit, and things like covenants at the point of public land sale to protect community interests.

    Competitions run by organizations like the RIBA and a slim lined planning regime that allows innovation are equally important.

    I hope that the volume house builders realize that the model they esque
    is a 19th century method of development akin to Fordism but without the 19th century social reform idealism.

    What needs to happen is radical reform inorder to support all sizes of business, work with communities and most importantly provide the right ground for Britain's great designers to make wonderful communities in partnership with enlightened and wealthy patrons and patriots.

    Architecture needs great stewards and patrons.

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  • Any homes built in London by Barratt will probably first require the demolition of other perfectly good homes and the destruction of the communites who live in them.

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  • It is depressing that the paltry amount of new housing being built is by crap volume housebuilders.

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  • It would be nice to get further feedback on what business model reform measures the VHB's are taking/planning to continue being relevant to the housing number supply, meeting community needs, and meeting design quality in the longer term.

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  • http://www.iuj.ac.jp/media/stokes/fordism.htm

    Interesting paper on the failure of Fordism in Japan with parallels to the failure of the VHB's model of production in the UK to my mind.

    Fundamental reform of the VHB's is inevitable as bailouts on the scale of the government transfers for billions of pounds for shovel ready schemes and policy concessions is only propping up a failed production structure and is extremely short sighted causing massive impacts on the market, creating Oligopolies.

    I think a longer term view is required to meet Britain's housing needs.
    Other tried models are available from Scandinavia and Europe.

    Organization such as Center Forum have already made proposals about reform to Land allocation and how land agents operate to ensure land banking is stopped. Liberals should press for this sort of reform.

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  • "Any homes built in London by Barratt will probably first require the demolition of other perfectly good homes and the destruction of the communites who live in them."

    Agreed.

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