» Barratt brings down the price of properties

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Article Published: 2nd October 2008

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Barratt Developments are having to tackle the current credit crises head on and try to encourage buyers with huge discounts on the price of their homes.

Nationwide Building Society highlighted the problem of house prices falling even further when it produced its latest survey. The survey claims that property prices have fallen by 1.7 per cent last month. Prices have fallen for eleven months in a row the average property price in the UK is £167,797.

Barratts and other developers are experiencing extremely difficult trading conditions and are offering increasingly competitive incentives and Barratts latest price reductions include up to 43 per cent price cuts when the client buys five or more flats in a development in East Yorkshire. City centre flats have been particularly unpopular with buyers and many inner city areas such as Canary Wharf have seen price drops on resale properties making it even harder to introduce new properties to prospective buyers.

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