LONDON Jan 12 Britain's biggest housebuilder by
volume Barratt posted a year-on-year drop in the number
of homes it built in the six months to the end of December, as
it completed fewer properties in London.
Barratt, which posted a 7 percent increase in first-half
pre-tax profit to 315 million pounds ($385 million), built 7,180
homes, down 6 percent on the same period in the previous year
with a fall in completions in the capital.
"This expected reduction in the first half was
primarily driven by the planned build programme between the
first and second half impacting wholly owned site product
availability," the firm said.
Barratt said in November it was cutting the price of some of
its most expensive London homes by up to 10 percent as the
market cooled following property tax increases and the Brexit
($1 = 0.8172 pounds)
(Reporting by Costas Pitas; editing by Sarah Young)