Barratt Redrow remains on track for its completions guidance, reporting a “resilient performance” since the start of its financial year.
Between 30 June and 26 October, the housebuilder saw total completions rise to 3,665, 7.9% higher than the comparable period the previous year.
Barratt Redrow saw its net private reservation rate per week fall slightly from 0.59 to 0.57 year-on-year, with no contribution from sales to the private rental sector or other multi-unit sales. The developer also saw its net private reservations, including joint ventures, per week dip to 228 from 255, while its average number of sales outlets dropped from 433 to 402 year-on-year.
As of 26 October, the housebuilder’s forward order book stood at 10,669 homes, marginally lower than last year’s 10,706, representing a value of £3,281.4million, up from £3,206.0million in 2024.
Barratt Redrow said that as a result of “solid reservation activity” during the financial year, it remains in line with its expectations of between 17,200 and 17,800 completions for the full year. It anticipates that around 40% of its completions will be in the first half of the year, which it says reflects “typical seasonality”.
In its trading update, Barratt Redrow warned that its trading performance for 2026 could be impacted by the upcoming Budget and the effects this has on buyer demand.
The housebuilder said that it remained encouraged by the focus on housebuilding and planning from the government, but called for more action to support demand and drive housebuilding activity.
David Thomas, chief executive of Barratt Redrow, commented: “We have delivered a resilient performance over the period despite challenging market conditions and increased uncertainty ahead of the November Budget. 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 trading update also said that the integration of Redrow following the merger was continuing “at pace”, and it remains on course to deliver £100million of cost synergies.
