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BIJ: "Top housebuilders’ profits now back to pre-crash levels"

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"Britain’s ten biggest housebuilders will this year make profits of more than £2bn for the first time since the high water-mark of the last credit-fuelled property boom.

"The surge in profits comes despite the number of affordable homes built in England falling to an eight-year low.

"Analysis by the Bureau of Investigative Journalism shows that the country’s biggest builders, who between them control enough land to create 480,000 homes, will make pre-tax profits of over £2.1bn in 2014 – a 34% jump on last year.

"The total is based on reported and projected profits for firms including Persimmon, Taylor Wimpey, and Barratt, many of which have seen sales boosted by the government’s popular Help to Buy financial support schemes.

"The return to pre-crash profits of the UK’s housebuilding sectors comes as government figures project 42,710 affordable homes will be built in England in the year to April – the lowest number since 2006 and a 26% fall since 2010."

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