BARRATT Developments yesterday said it was well positioned for future growth as it benefited from a strong landbank and record forward sales.

The North-East housebuilder said forward sales had risen by 47 per cent, to £1.03bn, as demand continued to outstrip supply in the housing market.

The Newcastle firm also strengthened its landbank, up 11.9 per cent to 70,500 plots, equal to 4.8 years supply in the first six months of the year.

It came as Barratt posted a ten per cent rise in pre-tax profits to £180.2m for the six months to December 31.

Completions rose by three per cent on the same period, to 7,206, with average selling prices increasing from £162,900 to £165,000.

Barratt struck a deal to acquire rival housebuilder Wilson Bowden for £2.2bn last month. The move will create the largest housebuilder in the sector - a £4.3bn company with more than 7,500 staff.

Chief executive Mark Clare said yesterday: "Our strong performance in the first six months gives us a platform for future growth which will be enhanced by the proposed acquisition of Wilson Bowden."

The group said its priority was to complete the acquisition and integrate the businesses, while focusing on reducing costs.

Mr Clare said that while the fundamentals of the housing market remained sound, there was a certain level of uncertainty regarding further changes in interest rates and the effect that these might have on the housing market..