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Barratt home sales collapse by 43%

Barratt Developments yesterday reported a 43% drop in sales of private homes in the first half of the calendar year, but said it has renegotiated loan terms and a £400m credit line to help it cope with the worst housing slump in 15 years.

Barratt Developments, the troubled building group, yesterday reported a 43% drop in sales of private homes in the first half of the calendar year, but said it has renegotiated loan terms and a £400m credit line to help it cope with the worst housing slump in 15 years.