A boss at one of the north-east’s biggest housebuilders has admitted the industry has faced “tough times” but says “lighter days are ahead”.
Barratt Homes sales and marketing north director Felipe Ferreira said the firm will keep building in the region with hundreds of new properties in the pipeline.
High cost of materials and soaring interest rates have all played their part in denting the housing market.
But despite this Mr Ferriera says people are still buying new property.
Countesswells development ploughing ahead
Barratt Homes is currently in the middle of building at the Countesswells development in Aberdeen.
It has already finished 131 homes with another 318 to be built, including its current Kings Gallop scheme.
The company leading the £800 million development, Countesswells Development Limited (CDL), collapsed in 2022.
A subsidiary of the Stewart Milne Group (SMG) bosses at CDL blame the impact of the oil and gas downturn, as well as the Covid-19 pandemic – events they claim had a “seismic” effect.
Mr Ferreira, who studied at Robert Gordon University, said: “It’s really sad with regards CDL going in to administration as well as what happened with Stewart Milne.
“It’s not good for a north-east business of that scale to go bust.
“For us we’ve always been committed to Countesswells from day one and delivered everything we said we would.
“We have carried on as normal. Whatever the outcome is with the administrators we will help and support because we believe in the community.
“Over the last 12 weeks the Kings Gallop has been our best selling development for the north division so there is people seeing the progress and they have confidence in buying.
“There is a community being built here which is good to see.
“It’s not put people off at all.”
Barratt Homes creating hundreds of job
In April Barratt Homes submitted a planning application to build nearly 200 homes in Potterton.
Mr Ferreira said: “When you look at Potterton there will be opportunities. We will be looking for around 500 people in terms of employment.
“The worst is behind us and we are helping to build communities which we are proud of.”
Plans are also underway for 91 new homes in Dyce and 300 in Nairn between Barratt Homes and David Wilson Homes North Scotland, a subsidiary of Barratt.
Currently Barratt Homes and David Wilson Homes North Scotland employs 224 people at its sites across the north and north-east.
‘Lighter days are ahead’
With the market improving Mr Ferreira believes there’s little chance in Barratt Homes slowing down it’s building.
He said: “The biggest challenge for us as a builder and a developer has been the interest rates.
“But we offer a lot of incentives for customers which allows them to still make the move.
“Yes there’s been challenging times but it’s what we offer that’s helped customers.
“From a commercial point of view there has been an increase in the cost of building a house but here in Aberdeen the prices haven’t gone up dramatically.
“I feel like we’re now through the worst of it with lighter days ahead.
“It’s still tough but we are are very active in the land market.”