Completions rise at Barratt Redrow amid budget ‘uncertainty’

The UK’s largest housebuilder has called for the government to provide more support for first-time house buyers, as it reported resilient trading over the four months to the end of October.

In an update to markets, Leicestershire-based Barratt Redrow says it remains on track to complete between 17,200 and 17,800 homes this financial year, despite what the firm describes as challenging market conditions.

The group recorded 228 net private reservations per week during the 17-week period between 30 June to 26 October, below last year’s figure of 255 – a fall of 3.4%.

However the group’s forward order book at 26 October stood at 10,669 homes valued at £3.28bn, broadly unchanged from the previous year. Total home completions rose 7.9% to 3,665, with more than half (60%) of private completions already sold – 64% of which are completed or exchanged.

The group recorded just over £3.2m in forward sales during the period, up 2.4% on the previous year.

“We have delivered a resilient performance over the period despite challenging market conditions and increased uncertainty ahead of the November Budget,” said chief executive David Thomas. 

“In the long term, the fundamentals of UK housing demand are unchanged, and Barratt Redrow is uniquely well positioned with three strong consumer brands, a high quality land bank, and the financial strength to invest through the cycle.

“We remain focused on operational excellence as we target sustainable growth over the medium term to reach 22,000 home completions per year.

“In the meantime, it is essential that government policy continues to prioritise planning reform, removes barriers to investment and, crucially, supports homebuyers, especially first-time buyers, if the sector is to accelerate volumes to help meet the country’s housing needs.”

The company says it remains on course to deliver on a £100m savings target following a head office reorganisation, with a full transition onto Barratt’s IT systems also due to be completed in the current year.

The total land bank owned and controlled by the group stood at around 100,000 plots at 29 June 2025 – equating to 6.2 years of supply.

“Whilst we remain encouraged by the Government’s focus on housebuilding and its reforms to the planning system, accelerating delivery will also require action to support demand, which will ultimately drive housebuilding activity and create the homes, jobs and economic growth the country needs,” added a trading update, released prior to the group’s AGM today.

“It is vital that Government policy is focused on creating a positive, stable and predictable environment for institutional and private homebuyers, as well as homebuilders and our supply chain partners.”