STRONG demand for new homes has given the company that is completing nearly 300 apartments in Basingstoke its best-ever financial results.

Barratt has changed the skyline of Basingstoke with the city-style apartment buildings of Crown Heights.

The development is on the site of the demolished Government buildings, opposite the railway station, and boasts a new footbridge across to Festival Place shopping centre.

During the six months to the end of last December, Barratt sold 6,705 new homes in the UK, which was 10 per cent up on the previous year.

The housebuilder is now on course to achieve 14,000 sales over the full year.

Pre-tax profits rose to a record £142.6million and the average selling price of a new Barratt home increased to £161,700.

David Pretty, group chief executive, said: "Our sales are at record levels as we continue to experience good demand on all our developments right across the country.

"The housing market remains robust and is underpinned by low interest rates, good affordability, high employment levels and limited supply.

"These factors, together with the prospect of further modest interest rate increases, should help make the market more sustainable going forward.

"Looking ahead, we certainly believe it will remain sound during 2004, with prices rising more modestly. This will be welcome news for homebuyers."

In the wake of the recent Barker Report on housing supply shortages, Mr Pretty backed moves for reforms of the planning system.

He said: "The system needs to be simplified and sped up. When this happens we are confident the industry can quickly increase housing provision."

Barratt, which has a main office in Chandler's Ford, is currently building on 17 developments in the region, including Kempshott Park and Crown Heights, at prices from £128,000 to £246,000.