A HOUSEBUILDER has lauded its decision to spend £4.5bn on land during the recession, saying the move has delivered record orders.

Barratt Developments says a concerted move to buy plots from 2009 onwards has helped its forward order book rise to more than £2.5bn.

Bosses say the figure is the highest in the group’s history.

The figures were unveiled in a trading update for the 19 weeks covering the period between January 1 and May 10, which revealed the firm expects sales for the year to be about nine per cent higher than 12 months ago.

It said total forward sales were up nearly 18 per cent to £2.59bn to May 10, adding it expects completed sales to stand at more than 16,000 when it reveals its annual results later this year.

Mark Clare, group chief executive, said: “Our investment in £4.5bn of approved land for new housing since 2009 continues to deliver results.

“Completions for the 2015 financial year are expected to increase by about nine per cent, and our forward order book, at more than £2.5bn, is the highest level ever achieved by the group.

“We remain committed to helping increase the number of UK new homes, with our completions increasing by more than 40 per cent over the past four years.”

Earlier this year, Barratt unveiled plans to create 600 jobs across the North-East, with the Newcastle-founded company wanting bricklayers, electricians, landscapers and head office staff to take advantage of confidence in the sector.

The growth means the firm, founded by Sir Lawrie Barratt, will employ 2,200 people in the region.

Operating the Barratt Homes and David Wilson Homes divisions, it has a number of North-East developments, including the former Terry’s chocolate factory, in York.