Home-builder ups selling prices

London: Barratt Developments Plc, Britain’s biggest home-builder by volume, reported a narrower first-half loss after it increased average selling prices.

The net loss shrank to £9 million (€10.63m) in the six months through December from a loss of £127.4m (€148.7m) a year earlier, the London-based company said. Revenue was little changed at £878m (€1,025m).

The average price for a Barratt home increased 5.7% to £175,800 (€205,300).

British home prices have fluctuated over the last several months as a lack of supply supports values while fading consumer confidence, government budget cuts and reduced lending hurt demand.