Barratt provides boost for North East housing market

The North East housing market received a timely boost today when the region’s leading housebuilder announced plans to open eight new developments.

Barratt North East expects to start work on the new sites, which will provide over 1,250 new homes, within the next six months.

The developments have a total sales value of more than £175 million and provide further evidence that the property market in the region is likely to outperform some other parts of the country.

“Many househunters in the North East think that now is a good time to buy because prices are lower than in 2007 and interest rates are rock bottom” said Fenton Hewitt, Sales Director at Barratt North East.

“We believe that this will help sustain the local housing market whatever happens to the national economy.

“We would not be making this significant commitment to the market in this area unless we were confident about its prospects in the medium-term.

“By building these developments we will be bringing new jobs and creating well-designed, competitively-priced new homes which local people need.”

The new developments will be at Chester-le-Street, Consett, Coxhoe, Lambton, Spennymoor, Stockton, and Washington.

Barratt currently has homes available at developments across the North East, priced from around £100,000 to over £500,000. For more details visit: barratthomes.co.uk