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Aberdeen spearheading three-tier homes market

HOUSEBUILDER Barratt Developments indicated that Scotland is operating a three-speed housing market led by Aberdeen as it sold 960 homes north of the Border in its last financial year.

BUILDING BLOCKS: Infrastructure Secretary Nicola Sturgeon on a building site as part of the Government's scheme. Picture: Donald MacLeod
BUILDING BLOCKS: Infrastructure Secretary Nicola Sturgeon on a building site as part of the Government's scheme. Picture: Donald MacLeod

The company also hailed as a "big development" a new Scottish Government-backed scheme to give prospective homeowners access to 95% loan-to-value mortgages.

Barratt's pre-tax profit leapt a better-than-expected 159% to £110.7 million in the year to the end of June on a 14% rise in revenue to £2.3 billion.

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