Britain’s biggest house builder said completions were up 8.6% at 14,838, at average selling prices ahead 13% at £220,000.

In a trading statement covering year-end before results are formally released, Mark Clare, group chief executive, said the firm now expected to open 180 sites over the year ahead to meet soaring demand.

He added this would see Barratt make good progress this year towards achieving its 2016 target of 16,000 total completions.

Clare said: “The market remains positive with strong demand for new homes across the country.

“The land we have acquired in the last five years together with our disciplined operating model is delivering a very strong business performance.

“Our focused approach to land buying will enable us to maintain a land supply of around 4.5 years and support a significant increase in profitability and return on capital employed.”

Private forward sales were up by two-thirds to £870.1m, equating to 3,315 plots, compared with 2,162 plots in the previous year.

Barratt said it continued to see good land buying opportunities at its minimum hurdle rates of 20% gross margin and 25% return on capital employed. Plots in its land bank rose 16% to around 21,500.