BARRATT Developments cheered the housebuilding market when it said it had enjoyed its best spring selling season for five years.

Weekly net private reservations were up by 25%, with demand underpinned by shared equity schemes and Government initiatives which helped compensate for a shortage in affordable mortgages.

Barratt was “encouraged” after 1,600 customers a week registered with it since the launch of the NewBuy scheme, which sees the Government underwrite losses to encourage the return of 95% mortgages. Average selling prices rose by 5% to £202,000.